Interest rate goes up to highest level in 14 years as Fed attempts to slow inflation

An ASU supply chain expert says consumers will spend more financing cars or small businesses, and interest will go up on credit card balances.

In this article published Sept. 21, 2022, on ABC 15 Arizona:

There are some who believe that this is a double-edged sword, and that this could potentially flip us over the edge into recession. My strong recommendation to them is to pay off your credit card debts as soon as possible, even if you want to transfer to a 0% balance transfer.

– Hitendra Chaturvedi, professor of practice in supply chain management