Average Joe Is The Victim Of The High Inflation Rates

Bryan Dijkhuizen

The price of borrowing money isn't going to be as low as it was in the past decades and still is.

According to Finnish Finance Minister, Annika Saarikko, politicians should warn their colleagues and the people that the era of cheap borrowing is over, she says in a Bloomberg interview.

Inflation is hitting all around the world and everybody is feeling the rise in energy costs and regular groceries. But also, mortgages or regular loans that banks sell are becoming more expensive.

Not only in Europe, but inflation is also creeping in, in the United States, inflation rates are at record highs.

The only thing that could help keep the people's purchasing power up is a growth in the economy and to put a stop to printing money by the ECB or the Federal Reserve.

The average citizens are the ones that get hit the most.

The majority of adults in the country are concerned about the economy, more than 80% of the people believe that the United States is on course to get involved in a major recession that's going to last a couple of years.

In the interview with Bloomberg, the Minister of Finance says:

“Finland has managed its economy well, and that is the reason why we have high credit ratings,” she said. “We are trusted in the world, and that is the core of our economy. I want to maintain that trust.”

What do you think of the economy? Are you hit by the high inflation rates?

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