This week, the Federal Reserve Board is to meet to go
over interest rate policy and the current economic standing of the United
States. It is not expected that interest rates will rise this session, due to
the election and the Fed’s strategy to not step into that spotlight, however it
won’t be a surprise if members of the Fed’s policy making Open Market Committee
(FOMC) lock in a higher rate during it’s next meeting in December.
Those pushing for an increase
in interest rates argue that because the economy is nearing its full employment
capacity, further reductions in the unemployment rate will pressure wages to
raise with the rates. This translates to higher inflation.
The opposing ARGUMENT sheds
light on the fact that the percentage of prime age (25 – 54) workers who have
jobs is still down almost 2.0% since the 2008 recession; even though the
unemployment rate is low, it may not be accurate due to people giving up
looking for work because hope of finding a job was lost.
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