Category Archives: Uncategorized

As most Americans experience the impacts of inflation on their daily lives by means of increased grocery and gas prices, many might not realize the impact of medical care at hospitals on inflation rates in the United States. Hospitals were not as quick to increase prices during the pandemic compared to supermarkets, retailers and restaurants. However, costs are beginning to significantly increase, with patient costs jumping nearly 8% in April 2024 compared to the same month in 2023, according to the Department of Labor, marking the highest increase in any month in almost 14 years. Several hospital procedures are seeing price increases of as much as $700, which translates to a 4.5% increase. These price escalations are impacting patients and employers as well, with higher health insurance premiums and limited wage hikes. For the first waves of inflation in the economy, hospitals held prices steady due to contractual obligations with…
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With the rising costs of running a business, from raw materials to loans and insurance, has also come the rise in small businesses filing for bankruptcy. Business owners are struggling to reconcile the impacts of inflation while preparing for the potential end of bankruptcy provisions brought on by the COVID-19 pandemic. Subchapter V bankruptcy filings increased by 60% in a year, from 146 filings in April 2023 to 233 in April 2024, according to a report from Law360. Most types of bankruptcy filings are rising, with Chapter 11 filings increasing by 40% year over year and total bankruptcy filings rising by 28%. As inflation and increasing interest rates continue to weigh heavily on consumers and business owners, many are having difficulty meeting their debt obligations and are seeking out options that can ease their financial burdens. “These increases reflect the increased cost and expense pressures both individuals and businesses are…
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Federal Reserve officials recently left interest rates unchanged and forecast a decrease in borrowing costs by the end of the year as inflation eases. Rates are being held at 5.3%, having remained steady since July 2023. After battling inflation for nearly two years, they are not quite ready to dismiss inflation entirely, and are therefore keeping rates at a higher level in an effort to weigh on inflation. Alongside this decision, policymakers released their quarterly economic estimates, which project that borrowing costs will be at 4.6% by the end of 2024. This suggests that policymakers will still likely make three quarter-point rate cuts this year. A recent New York Times article reported that the goal of these decisions is to ensure that inflation cools down to a normal level without an economic slowdown. With higher interest rates, the goal is to bring price increases under control while also trying to…
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