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NJ Spotlight News | Business Report: Reaction to Murphy spending plan | Season 2023

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Business groups applaud some of governor's proposals, but want more help
The PBS NewsHour Business Report discusses several key economic issues, including the Federal Reserve's decision to raise interest rates by a quarter percentage point to combat inflation, which remains stubbornly high at 6% annually. The report highlights the ongoing debate about the potential for a recession, with some experts arguing that the economy might achieve a soft landing despite the rate hikes. Additionally, it covers the impact of these economic conditions on the housing market, where higher mortgage rates are cooling demand, and the labor market, which continues to show strength with low unemployment rates. The segment also touches on corporate earnings, noting that many companies are reporting mixed results amid these challenging economic conditions.

Read the Full PBS Article at:
[ https://www.pbs.org/video/business-report-1677702660/ ]