Soren Hauge interviewed about recent interest rate hikes

Soren Hauge, professor of economics, spoke Thursday, June 16, for Spectrum News 1, a statewide news and information network. He discussed key interest rate hikes by the Federal Reserve in an effort to tamp down inflation.

He said these efforts will make things more expensive for people in the short run. “In the longer run, it should reduce the pressure for prices to rise which will in turn help consumers’ budgets over the course of the year as inflationary pressures abate somewhat in part due to these rate increases, but for people borrowing money, it’s going to pinch them more now,” he said.

The full interview can be accessed here.