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Their customer base is shrinking and there’s no appetite for raising prices, aka tuition.
The Federal Reserve has been raising interest rates for almost two years now, affecting virtually everyt;hing in the economy. But some businesses have been relatively insulated from rate hikes.
But with interest rates high and wage growth slowing, that level of spending is becoming unsustainable.
Some experts back the idea for certain high-interest loans. But it likely wouldn’t put off desperate short-term borrowers.
More than 230 companies declared bankruptcy before the end of April. What is happening?
Reining in our debt amid the debt ceiling battle would require big — and painful — changes to government spending and taxation.
Total loan balances rose from last quarter and year over year, according to the FDIC. There are good reasons to borrow now.
Many companies are borrowing now — if they can — in a bid to get ahead of further rate hikes this year.
Reports from banks like JPMorgan and consumer companies like PepsiCo can reveal spending trends and signal what businesses see coming.
Teachers demanding higher pay is one example of new costs. That could make it harder for schools to borrow money, a new report says.