We can all agree these are challenging times. According to the Bureau of Labor Statistics, the current inflation rate in the U.S. is at 8.5%, well above the post-World War II average of 3.8%; and the unemployment rate is 3.7%, versus an average rate of 5.7% over the same period.
At the beginning of 2022, the prime rate of interest was 3.25%. As a result of multiple moves by the Federal Reserve increasing the federal funds rate, the prime rate today is 5.5%. Most industry experts expect the Fed…
