The Federal Reserve this week left interest rates unchanged for the first time in over two years. Creighton University Economics Professor Ernie Goss says that’s good news for consumers who won’t see a rise interest rates for credit card purchases. But, Goss says when the Fed meets in September they may have to raise rates again.
Like other surveys across the nation, the professor says his research indicates “we’ve got a real problem,” as inflationary pressures remained fairly strong at the same time that growth is slowing. Goss warns we probably have not seen the last of inflationary pressures since oil prices continue to climb. Goss conducts a monthly survey from business leaders and supply managers in a nine-state region, including Iowa.