Lee EBCS: Fourth Quarter 2022 Report
In our last report, we noted there was a blurred picture when it came to the national economy. This national scenario remains true for the latest report as well, as businesses and workers continue to navigate a period of economic uncertainty. In an effort to stabilize inflation, the Federal Reserve increased the federal funds rate by 0.75 basis points in November 2022, representing the highest level since January 2008. There is still some debate among economists as to whether this will produce a recession. While the housing market has been cooling down, consumers continue to maintain their expenditure level.