Small Businesses Express Concerns to Fed's Powell About Inflation and Interest Rates

InflationMoney MattersLeases & Loans
Written By Jennifer Joslyn

💰 Small Businesses Express Concerns to Fed's Powell About Inflation and Interest Rates.

Federal Reserve Chair Jerome Powell and Patrick Harker, head of the Federal Reserve Bank of Philadelphia, visited York, Pennsylvania, to hear the concerns of small-business owners grappling with inflation, high interest rates, labor shortages, and post-pandemic economic challenges. Businesspeople expressed optimism but mentioned issues like labor shortages, higher interest rates hindering expansion, and supply chain disruptions. Powell assured them that the Fed is working on addressing inflation. The local economy is growing, but businesses worry about high interest rates and unresolved inflation, along with a lack of childcare facilities affecting workforce participation.

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Jennifer Joslyn
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