Reported about 1 year ago
American businesses and consumers, who initially anticipated a decline in interest rates at the beginning of the year, have had to put their investment plans on hold as the Federal Reserve's higher-for-longer stance has prompted companies to reconsider capital expenditures, inventory, and hiring, leading to a slowdown in the economy. With businesses feeling the pain through decreased capital investments and increased bankruptcy filings, there is uncertainty around the world regarding the Fed's decision, impacting consumer debt and home purchases. Small firms are grappling with high loan rates and inflation, while businesses like Fullerton Tool Co. and SCM North America are delaying equipment purchases to navigate the current economic environment.
Source: YAHOO