Kiplinger recently published an article by Bill Lobel, founder and president of Distressed Capital Resources. Entitled “Fed’s Latest (and Greatest) Rate Hike Sure to Cause More Pain,” the article discusses the recent decision by the Federal Reserve Board of Governors to increase the interest rate paid on reserve balances by 0.75% to a range of 1.5% to 1.75%. Lobel outlines factors which may lead to a recession, including rising interest rates, inflation, and a recent lockdown in China.
“Business and real estate owners would be well advised to consider what the near future may bring to our economy and prepare for the inevitable. Now is the time to ameliorate distressed assets,” said Lobel. “Consumers and retired persons, as well as business owners and entrepreneurs, should consider working with a financial planner, tax professional or attorney who can assist in preparing for the impending recession before it arrives.”
Read the full article HERE.