The Federal Reserve hiked its benchmark federal funds rate by a quarter of a percentage point on Wednesday, the 10th in a series of hikes that began in March 2022.
The rate hike brings the Fed’s target rate within a range of 5% and 5.25%, with the Fed continuing its series of rate increases. Most economists anticipated a quarter point interest rate hike in an effort to bring inflation down, but many expect this will be the last rate increase in the series.
As of Wednesday morning, markets were predicting almost 100% odds that the Fed would hike rates by a quarter-point, according to CNBC. With the latest rate increase, the Fed funds rate is now at its highest level since 2007, prior to the 2008 financial crisis.
“What’s most important is how they convey the potential for a pause going forward,” Collin Martin, fixed income strategist at Charles Schwab, told CNBC. “How do they do that while also probably leaving the door open a little bit? That will be a balancing act between suggesting a pause is in the cards but still is dependent on incoming data should inflation turn higher going forward.”
There is a conflict in goals at the Fed because reducing inflation through interest rate hikes contributes to banking sector turmoil, Peter St. Onge, research fellow in economics at the Heritage Foundation previously told the Daily Caller News Foundation.
“Higher rates put more stress on banks,” he said. But lower rates enable inflation to persist and can signal distress.
“I think the general expectation is that the Fed will raise their interest rate target range by 0.25 percent but that they will signal a pause in rate hikes thereafter,” Dr. Thomas Hogan, senior research faculty at the American Institute for Economic Research and former chief economist for the Senate Committee on Banking, Housing and Urban Affairs, told the DCNF.
“Following the recent failures of Signature Bank and Silicon Valley Bank (SVB), many speculated that the Fed might cut rates,” he added. “Instead, they chose to continue their rate increases.”
The U.S. economy slowed more than expected to 1.1% in the first quarter of 2023, according to the Bureau of Economic Analysis (BEA). Low GDP, high inflation and rising interest rates added to concerns about the possibility of an upcoming recession, according to The Wall Street Journal.
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact [email protected].
Why One Survival Food Company Shines Above the Rest
Let’s be real. “Prepper Food” or “Survival Food” is generally awful. The vast majority of companies that push their cans, bags, or buckets desperately hope that their customers never try them and stick them in the closet or pantry instead. Why? Because if the first time they try them is after the crap hits the fan, they’ll be too shaken to call and complain about the quality.
It’s true. Most long-term storage food is made with the cheapest possible ingredients with limited taste and even less nutritional value. This is why they tout calories so much. Sure, they provide calories but does anyone really want to go into the apocalypse with food their family can’t stand?
This is what prompted the Llewellyns to launch Heaven’s Harvest. They bought survival food from multiple companies and determined they couldn’t imagine being stuck in an extended emergency with such low-quality food. They quickly discovered that freeze drying food for long-term storage doesn’t have to mean sacrificing flavor, consistency, or nutrition.
Their ingredients are all-American. In fact, they’re locally sourced and all-natural! This allows their products to be the highest quality on the market, so good that their customers often break open a bag in a pinch to eat because they want to, not just because they have to due to an emergency.
At Heaven’s Harvest, their only focus is amazing food. They don’t sell bugout bags, solar chargers, or multitools. They have one mission – feeding Americans in times of crisis.
What they DO offer is the ability for people to thrive in times of greatest need. On top of long-term storage food, they offer seeds to help Americans for the truly long-term. They want them to grow their own food if possible which is why they offer only Heirloom, Non-GMO, Non-Hybrid, Open-Pollinated seeds so their customers can build permanent food security on their own property.
Visit the Heaven’s Harvest website and use promo code “Patriot” for a discount today!
