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What is the impact of the global recession on the US? You all know that nowadays global recession has become a big issue for all countries. Developed countries like America, have been harassed this year by the fear of inflation and recession ahead, and may also worry in the coming year.
Effect of Inflation in USA 2022
It cannot be told clearly how long the period of recession and inflation will continue in America. But the figures that have come this year, if the figures remain the same till the end of the year, then the Federal Reserve system, which is continuously increasing its interest rates, will have to think seriously about it.
FED Increase Interest rates for 2022 and what’s next?
In the middle of this year, when inflation had crossed the 8% rate, the Federal Reserve System feared that we might increase our interest rates by September and October, and they did it too.
The Federal Reserve System’s goal of bringing inflation down to 2% by the end of the year will not be easy to achieve. America is going through the most inflationary phase of its history in 40 years.
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Possible Reason for US Inflation 2022
Along with this, the increasing demand for crude oil around the world and the tremendous decline in energy resources, due to them, their prices are skyrocketing day by day. In the midst of all these things, America may have to change its financial methods in the coming time.
Benefits and recipients of USA
The Social Security Administration (SSA) can increase benefits under the cost of living adjustment scheme, i.e COLA. More than half of the people in America take money from the government as a kind of pension or income under a special fund every month as a social security recipient. The Social Security Administration also offers medical benefits.
In the end, the story is
But by the end of this year, how much will be the inflation rate and what will be the impact of the recession on Americans, will not be accurate to estimate at the moment.
Because every country is correcting its economic structure at this time and constantly trying how they move forward according to the time to come.