Federal Reserve Hikes Interest Rates Amid Inflation Fears

The Federal Reserve has raised interest rates in an attempt to combat inflation, which has driven oil, gasoline, and diesel prices to record highs due to the ongoing war in Iran.

Dale Rogers, a professor at ASU's W. P. Carey School of Business, explained that the increased interest rates aim to reduce demand for goods and services, thereby reducing inflation.

However, nearly half a million Arizonans failed to receive SNAP benefits due to an investigation into the Arizona Department of Economic Security (DES), which found that only 13% of eligibility interviews were completed.

New laws affecting homeowners associations in Arizona have also taken effect this week, providing more protections for homeowners against strict HOA regulations.