Sader Law Firm Blog - Kansas City Bankruptcy Attorney Blog

High and Rising Rent Prices Impacting Business Owners

Posted on October 8, 2024 by Sader Law Firm

Despite cooling inflation levels and lower costs for business owners, rent prices still remain high and some are even rising. With these increasing rent prices, owners have to make some difficult decisions that have an impact on their customers. In order to offset increased rent prices, many business owners are turning to price increases on their goods and services. However, the lasting effects of inflation from the past four years has caused consumers to be hesitant to pay increased prices, especially for services they are used to being priced at a certain rate. In an article from Yahoo! Finance, a Canadian auto repair shop owner, Peter Yu, discussed the challenges the rising rent prices are causing for his business. After his rent price was raised, Yu decided raising his prices would be cheaper than moving locations. Customers who came to his shop for services would tell him outright that the…
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The Federal Reserve Cuts Interest Rates by Half-Percentage Point

Posted on September 20, 2024 by Sader Law Firm

The Federal Reserve has officially voted to lower interest rates by a half-percentage point. Marking the first reduction since the central bank launched its fight against inflation in 2020, this is a signal that the aggressive approach to bringing inflation rates down toward the 2% goal has been successful. Additionally, the hope is that lowering interest rates will help the economy continue to grow. Eleven of the 12 Fed voters were in favor of the interest rate cut to bring the benchmark federal funds rate to a range between 4.75% and 5%. Additionally, quarterly projections showed that the majority of officials were in favor of lowering rates by at least a quarter-point at the next meetings in November and December. The decision to cut rates by an amount that is much larger than what was originally predicted signals that the central bank is aiming to prevent past rate increases from…
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US Inflation at Lowest Rate in Three Years

Posted on September 3, 2024 by Sader Law Firm

Year-over-year inflation rates reached the lowest level seen in more than three years. This decline signals to consumers the potential that the post-Covid price spike is fading, and the Federal Reserve could be setting up to cut interest rates in September. In a report from the Labor Department, data shows that consumer prices measured year to year rose 2.9% in July, down from 3% in June. This marks the lowest gain since March 2021, according to an article from AP News. The report from the Labor Department stated that nearly all of the inflation seen in July was from higher rental prices and other increased housing costs. The Department also declared that this trend is easing as well. As inflation falls closer to the Federal Reserve’s target rate of 2%, economists are feeling more confident in the direction the rate is moving as well as with the pace at which…
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