I Prayed have prayed
Lord, please save our economy from disaster. Protect us from those who are trying to destroy it either by ignorance or malice.

Inflation has become a major problem in America and for now has shown no signs of going away.

From Fox Business. The U.S. economy is at a mounting risk of spiraling into a 1970s-style stagflation crisis as the Russia-Ukraine war exacerbates already sky-high inflation, according to a new analysis.

The Economist Intelligence Unit, in a Thursday note, predicted that consumer prices will continue to hover near a 40-year-high “at least until the middle of the year,” weighing on consumer spending and real GDP growth. The London-based group already lowered its forecast for U.S. GDP this year from 3.4% to 3%.

Combined with an increasingly aggressive Federal Reserve, which lifted interest rates by a quarter-point in March and signaled at least six more, similarly sized increases this year, and the fallout from the Ukraine invasion, the outlook for the U.S. economy is growing bleaker….

Stagflation is the combination of economic stagnation and high inflation, characterized by soaring consumer prices as well as high unemployment….

A telltale sign, and consequence, of stagflation is rising energy prices, according to many economists, who believe it occurs when a sudden increase in the cost of oil reduces an economy’s productive capacity….

There are other economists who believe the U.S. economy is showcasing signs of stagflation today, as the Russian invasion of Ukraine sent oil prices soaring. Crude prices were steady on Friday and were poised to fall slightly as countries announced plans to release supplies from their stockpiles.

Consumer prices already jumped 7.9% in February, just as the war in Europe began, and are expected to remain elevated in the coming months.

Danielle DiMartino Booth, the CEO and chief strategist of Quill Intelligence and a former adviser to a Dallas Fed president, said stagflation “appears to be an imminent development….”

How are you praying for our economy? Share this article to keep people informed.

(Excerpt from Fox Business. Photo Credit: Andre Taissin on Unsplash)

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Sue Tracy
April 18, 2022

Help us to look to You for our restoration and lay down our plans and trust you to make this happen.

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Sue Tracy
April 18, 2022

Lord protect our economy and help those you have put in place to work deliberately and purposefully to restore what needs to be restored. Thank You

3
Karen Secrest
April 18, 2022

We need to STOP AGREEING with all the negative. Words are alive and full of power. FATHER GOD SAYS HIS WORD GOES FORTH AND DOES NOT RETURN VOID.
May the Words of our mouth and the meditation of our heart be acceptable in your sight…AMEN

6
Jim Manning
April 18, 2022

We declare Ephesians 1:17-19 that You Father through Your Son Jesus and the power of the Holy Spirit would open the eyes of our understanding in our leadership in our nation and give them a Spirit of wisdom and revelation in the knowledge of You Father in Jesus Holy name, amen

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