Prices rise faster than wages. People struggle to keep up

Food prices have risen 12% year-over-year. Rent is up more than 40% and the Federal Reserve just raised interest rates by 0.75% this week. “The Fed’s going to break something. They’re either going to break inflation, or they’re going to break the economy,” said Ryan Sweet, an economist with Moody’s Analytics. He said it could take up to a year for the economy to right itself.

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