Everybody is convinced the dollar is strong, and that includes our adversaries. The USD has strengthened, and the British Pound is on parity, as is the Euro. This will affect our exports, so make adjustments to your business.
President Biden is on the verge of removing tariffs on Chinese imports and maybe some other ones because it will have an impact on inflation. We will see what the final outcome is.
The Fed’s increase in interest rates is working. Mortgage rates have gone up, housing registrations are declining, and the prices of real estate have begun to decline.
As I’ve said before, the Feds are very clear: the number one priority is to tame inflation.
Unemployment is officially 3.6%. This has to go up — and it will go up; you will begin to hear of layoffs in the remaining half of this year. We know that a number of companies have already announced that they will stop hiring.
The bad news is, yes, it needs to be done.