Page 56 - ATR 3 2022 digital

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Controlling Inflation Without

Triggering a Recession

Controlling inflation

without triggering a recession
Though many — including millions in service industries — experienced unemployment in early 2020, rates have returned
to pre-pandemic lows of 3.6%. As the consumer price index indicated the highest inflation in 40 years, on June 15, the U.S.
Though many—including millions in service industries—experienced unemployment in early 2020, rates have
returned to pre-pandemic lows of 3.6%. As the consumer price index indicated the highest inflation in 40 years,
Federal Reserve raised interest rates by .75% — the largest increase since 1994.
on June 15, the U.S. Federal Reserve raised interest rates by .75%—the largest increase since 1994.
The increased rate is a strategy to bring down the inflation rates, but not employment. Read more about the economic
The increased rate is a strategy to bring down the inflation rates, but not employment. Read more about the
forecast on page 18.
economic forecast on page 18.
United States Annual Inflation Rates
2012–2022
10
9 8.6%
8
7%
7 6
percent change 5 4

2 3 1.7% 1.5% 2.1% 2.1% 1.9% 2.3% 1.4%
1 .8% .7%
0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

United States Annual Unemployment and Interest Rates
2012–2022
14 13.2% 3

12 2.5% 2.5

10 8.2% 2% 2
percent change 8 6 7.5% 6.3% 5.6% 4.8% 1.25% 5.8% 1.75% 1.5

4 4.4% 3.8% 3.6% 3.6% 1
.5%
2 .25% .25% 0.5
.25% .25% .25% .25%
0 0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
unemployment interest

Source: Bureau of Labor and Statistics ATR

56 Issue 3 2022 | ARKANSAS TRUCKING REPORT