Three Duke economists discussed the nation’s economic health on Wednesday in a virtual question-and-answer session.
BUSINESSES. BUT HE WARNED THAT MORE ECONOMIC SURPRISES COULD BE IN STORE. THE FED RECENTLY RAISE INTEREST RATES BY 3 QUARTERS OF A PERCENTAGE POINT IN HOPES OF SLOWING DOWN THE SURGING PRICES FOR FOOD, GAS AND OTHER NECESSITIES. THIS MORNING, 3 DUKE ECONOMISTS DISCUSS THE FACTORS DRIVING THE PRICE HIKES. THE EFFECTS OF RISING INTEREST RATES AND PROSPECTS FOR THE REST OF THE YEAR. BRIAN SHRADER LISTENED IN ON THAT VIRTUAL MEETING AND JOINS US WITH THE KEY POINTS. BRYANT. JEFF, WE’RE SEEING THE WORST INFLATION IN 40 YEARS AND UNFORTUNATELY, THE PROGNOSIS FROM THESE DUKE ECONOMISTS, IT’S PRETTY GRAHAM SAID THE GAS PRICES LIKELY WILL REMAIN HIGH. EVEN WITH THAT PROPOSED GAS TAX HOLIDAY. IT’S UP TO THE GAS SUPPLIERS TO DETERMINE. >> HOW MUCH OF THOSE SAVINGS THEY’LL PASS ON TO DRIVERS AND IN THE END, DUKE ECONOMIST AND A RESCUE DEAL SAYS THAT WE MIGHT SAVE ONLY A DOLLAR OR SO PER FILL-UP. SHE ALSO SAID THE FOOD PRICES WILL REMAIN HIGH SO FAR FRUITS AND VEGETABLES HAVE NOT RISEN AS MUCH AS MEAT. BUT SHE SAYS THAT COULD CHANGE. >> BUT I THINK OVER THE COURSE OF THIS YEAR, WE MAY SEE THOSE ON THE FRONT NATIONAL’S. I’M GOING UP IN PRICE AS WELL BECAUSE THERE ARE CONSTRAINTS ON ACCESS TO PROPER LICENSE, WHICH IS REALLY AFFECTING THE PRODUCTION CYCLE. >> OF COURSE, WE’VE SEEN HOUSING PRICES SKYROCKETING IN OUR AREA OVER THE PAST COUPLE OF YEARS WITH RISING INTEREST RATES. WE’VE BEEN HEARING ABOUT HOW THE HOUSING MARKETS AROUND THE COUNTRY ARE STARTING TO COOL OFF A LITTLE BIT TODAY AT 4 ON WRAL NEWS. WE’LL HEAR FROM A DUKE ECONOMISTS ABOUT WHAT
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