a person paying cashless using credit card

After bottoming out at a 10-year low in May 2022, Consumer Sentiment in Florida has rebounded slightly, according to August 2022 data from the University of Florida’s Bureau of Economic and Business Research.

With a national, and perhaps global economic recession on the horizon, the question remains: “Is the positivity here to stay in Florida or is it just a blip on the radar?” Consider Federal Reserve Chairman Jerome Powell’s comments during a recent speech, foreshadowing what’s next for the economy and interest rates:

Chair Jerome Powell and other officials meanwhile have stepped up public warnings about rising rates. In a key speech at Jackson Hole on Aug. 26, Powell suggested they would “bring some pain to households and businesses,” representing “the unfortunate costs of reducing inflation.”

Yahoo news, 9-20-22

The Chamber will continue to monitor and report on national, state and local economic news that affects your business.

Leave a Reply