It will continue to cost more to live in the United States.

Inflation is on the rise and could easily to 9% this summer.

In a belated attempt to slow inflation, the Federal Reserve raised interest rates by 75 base points earlier this month.

That’s the largest hike since 1994. It’s the third rate in 2022 already. They raised rates by 50 basis points in May and 25 points in March.

They are blaming the Russian invasion of Ukraine and not Joe Biden. It’s made worse by the oppressive lockdowns in China due to the Chinese coronarvirus pandemic.

The real GDP is down, unemployment is going higher (it could be up more than 4% by 2024).

Those and other factors forced the Federal Reserve to raise rates and that will undoubtedly trigger a recession.

And more hikes are coming.

Woe to Americans with credit card debt and student loans. It’s trouble for young people who want to buy their first home. Jobs will be hard to find. Groceries and gasoline is going to go through the roof.

Retirement accounts (IRAs) are on shaky ground and the over-inflated housing market could tank.

And the worst part is that Democrats, who control the White House and Congress, are more focused on punishing Donald Trump for a protest at the Capitol than solving any of these financial problems.

You can’t borrow your way out of debt. At some point, the Chinese will stop buying our debt, the interest on that debt will skyrocket and America might go bankrupt.

We need different people in charge.