{"id":1573081,"date":"2022-07-27T11:07:31","date_gmt":"2022-07-27T15:07:31","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1573081"},"modified":"2022-07-27T11:07:47","modified_gmt":"2022-07-27T15:07:47","slug":"americans-brace-for-another-big-interest-rate-hike","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-brace-for-another-big-interest-rate-hike\/","title":{"rendered":"Americans brace for another big interest rate hike"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Famericans-brace-for-another-big-interest-rate-hike%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1573081&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><img decoding=\"async\" width=\"315\" height=\"210\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/AP22201582596146.jpg\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"Vanessa Correa, left, and Gigi Fiske, right, pass out gallons of milk at a food distribution held by the Farm Share food bank, Wednesday, July 20, 2022, in Miami. Long lines are back at food banks around the U.S. as working Americans overwhelmed by inflation turn to handouts to help feed their families. (AP Photo\/Lynne Sladky)\" loading=\"lazy\" style=\"float:left; margin:0 15px 15px 0;\" \/><\/p>\n<div id=\"attachment_2731163\" style=\"width: 1034px\" class=\"wp-caption alignnone\"><img decoding=\"async\" aria-describedby=\"caption-attachment-2731163\" loading=\"lazy\" class=\"size-full wp-image-2731163\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/AP22201582743629.jpg\" alt=\"People stand outside of their vehicles as they wait in line at a food distribution held by the Farm Share food bank, Wednesday, July 20, 2022, in Miami. Long lines are back at food banks around the U.S. as working Americans overwhelmed by inflation turn to handouts to help feed their families. (AP Photo\/Lynne Sladky)\" width=\"1024\" height=\"682\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/AP22201582743629.jpg 1024w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/AP22201582743629-656x437-1.jpg 656w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/AP22201582743629-768x512-1.jpg 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p id=\"caption-attachment-2731163\" class=\"wp-caption-text\">People stand outside of their vehicles as they wait in line at a food distribution held by the Farm Share food bank, Wednesday, July 20, 2022, in Miami. Long lines are back at food banks around the U.S. as working Americans overwhelmed by inflation turn to handouts to help feed their families. (AP Photo\/Lynne Sladky)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>\nUPDATED 6:45 AM PT \u2013 Wednesday, July 27, 2022<\/h5>\n<p>The Federal Reserve is expected to impose another big interest rate hike as Americans continue to struggle with record high prices. Inflation has soared to 9.1 percent, which is the fastest increase in consumer prices in more than 40 years.<\/p>\n<p>According to the Bureau of Labor Statistics, food prices are up 10.4 percent and the pain at pump has become more severe as gas prices increased by nearly 60 percent over the last year. As prices surge, so are the lines at food banks across the country.<\/p>\n<blockquote>\n<p><strong>\u201cWhat we\u2019re hearing from people and families is they\u2019re making these decisions between filling their gas tank to get to work, paying the rent, paying utilities, other basic expenses and meeting their food costs,\u201d explained Michael Flood, CEO of the Los Angeles Regional Food Bank.<\/strong><\/p>\n<\/blockquote>\n<p>Food banks are struggling to meet growing demand as more working Americans grapple with inflation and struggle with feeding their families. Flood said people are looking to pantries and distribution programs just \u201cto try to make ends meet.\u201d<\/p>\n<div id=\"attachment_2731162\" style=\"width: 1034px\" class=\"wp-caption alignnone\"><img decoding=\"async\" aria-describedby=\"caption-attachment-2731162\" loading=\"lazy\" class=\"size-full wp-image-2731162\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/AP22201582596146.jpg\" alt=\"Vanessa Correa, left, and Gigi Fiske, right, pass out gallons of milk at a food distribution held by the Farm Share food bank, Wednesday, July 20, 2022, in Miami. Long lines are back at food banks around the U.S. as working Americans overwhelmed by inflation turn to handouts to help feed their families. (AP Photo\/Lynne Sladky)\" width=\"1024\" height=\"683\" \/><\/p>\n<p id=\"caption-attachment-2731162\" class=\"wp-caption-text\">Vanessa Correa, left, and Gigi Fiske, right, pass out gallons of milk at a food distribution held by the Farm Share food bank, Wednesday, July 20, 2022, in Miami. Long lines are back at food banks around the U.S. as working Americans overwhelmed by inflation turn to handouts to help feed their families. (AP Photo\/Lynne Sladky)<\/p>\n<\/div>\n<p>This comes as the Federal Reserve is set to inflict more pain on the economy with another big interest rate hike in an effort to tackle skyrocketing inflation. Chairman Jerome Powell insisted the Fed is \u201ccommitted to bringing inflation back down.\u201d He even suggested they are \u201cmoving expeditiously to do so.\u201d<\/p>\n<p>Meanwhile, economists are expecting the Federal Reserve to raise interest rates by another three-quarters of a percentage point, further stoking fears of a recession. Chief Investment Officer Cresset Capital, Jack Ablin explained that the more persistent inflation is, the more aggressive the Federal Reserve has to be.<\/p>\n<p>This comes ahead of the release of the second quarter GDP report, which is expected to show a contraction. Economists have pointed out a second negative quarter in a row would mean America is already in a recession.<\/p>\n<h4>MORE NEWS:\u00a0<a href=\"https:\/\/www.oann.com\/mark-meadows-trump-likely-to-throw-his-hat-in-the-ring-for-a-2024-white-house-bid\/\">Mark Meadows: Trump Likely To \u2018Throw His Hat In The Ring\u2019 For A 2024 White House Bid<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>People stand outside of their vehicles as they wait in line at a food distribution held by the Farm Share food bank, Wednesday, July 20, 2022, in Miami. Long lines are back at food banks around the U.S. as working Americans overwhelmed by inflation turn to handouts to help feed their families. (AP Photo\/Lynne Sladky) &hellip;<\/p>\n","protected":false},"author":79,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1573081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1573081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/79"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1573081"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1573081\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1573081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1573081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1573081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}