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A Return to the 70s? Stagflation Explained
With Inflation running at around 8% in both the U.S. and Europe, growth is starting to slow down, prompting fears of a recession. That has led to some economic institutions, including the World Bank, to warn of “stagflation” lurking in the background. The term, a mash-up of stagnation and inflation, was popularized in the 1970s by Nobel economics laureate Paul Samuelson. In the U.S. it brings memories of a time when inflation was high, the economy struggled through two recessions...
Inflationary Times: Businesses Must Define Next Financing Steps
As we move into spring and the pandemic continues to wind down, businesses are returning to more normal operations. But now, with inflation a growing concern (7.9% in February), how can businesses best protect their financing costs? To deal with higher costs, more businesses have been taking out loans. In a survey by the U.S. Chamber of Commerce, nearly half, or 45%, said they have taken out a loan to manage higher costs caused by inflation. According to the Small...
Be Prepared: Interest Rate Hikes Looking More Likely for 2022
Get ready for a year of rising interest rates, precipitated by the Federal Reserve as a way of fighting off inflation, and bolstered by a bevy of financial press and investor reports. Goldman Sachs expects the Federal Reserve to enact four interest rate hikes this year but thinks more are possible due to the surge in inflation, reports CNBC (1-23-22). Accelerating inflation could cause the Federal Reserve to get even more aggressive than economists expect in the way it raises...
Great Lakes Business Credit Awarded ‘Best of MichBusiness’ Honors
TROY, Mich., Jan. 26, 2022 – Great Lakes Business Credit, one of the nation’s fastest-growing asset-based commercial financing companies, has been named a “Best of MichBusiness” honoree. The Best of MichBusiness Awards celebrates the programs and companies that make Michigan a great place to live and work. The awards program honors the companies that made a difference in 2021 and showed outstanding leadership in a time of social and economic uncertainty. It's also a platform to showcase the best practices...
Businesses Beware: Lending Scene Could Change
As the economy bounces back and the U.S. transitions out of the pandemic, business owners will continue to need access to capital to both recover and grow. Since federal relief from the Paycheck Protection Program ended on May 31, business owners need to be prepared to seek future financing and look for new options. With this and other potential issues, like inflation, businesses might want to begin investigating alternative lending resources through sources like Great Lakes Business Credit. Under the...
Inflation, Higher Fed Rate Could Trigger Tighter Credit
Advice: Check Out Lending Options Now Some economic forecasts are pointing to potential inflationary times, which could tighten lines of credit. In July, the Federal Reserve decided to hold rates steady and said the U.S. economy is recovering despite Covid-19 concerns. Fed Chair Jerome Powell said that the U.S. economy is still a good deal away from making “substantial further progress” toward stable prices and maximum employment, reports Bloomberg News. The current federal funds rate stands at 0.25%. But according...