The Federal Reserve’s latest move has sent shivers down the spine of Americans as interest rates have been raised once again. The economy is still reeling from the previous banking crises and the possibility of another looming one has Americans sending out an SOS message. With the stock market in flux and uncertainties abound, citizens are looking for answers and stability.
A quarter-percentage point increase in interest rates was carried out by the Federal Reserve on Wednesday, a decision that caused speculation among financial experts as the central bank weighed reducing inflation and ensuring banking stability.
Although the 25 basis point increase was a reduction from previous increases of 50 and 27 basis points, the increase is the same as the one implemented in February before the recent banking crisis, Breitbart notes.
Meanwhile, there is a wide belief that another financial collapse similar to the 2008 financial collapse is “likely,” according to a CBS News/YouGov poll conducted last week.
Respondents were asked, “How likely is it that the country will experience another banking and financial crisis similar to the one that occurred in 2008? ”
A combined 75 percent of respondents believe it is likely that there will be a financial collapse, with 28 percent thinking it is very likely and 47 percent thinking it is somewhat likely.
Two percent said it was “not at all likely.” Just 22 percent said it was “not very likely.”
The question was posed to respondents just before the Fed raised interest rates.
As we navigate through these uncertain times, it is crucial to take measures that will secure the future of the economy and its citizens. It is vital to address the root causes of the financial crisis and ensure that measures are taken to stem its recurrence. One thing is clear: Americans are sounding an SOS message, and it is time for action.