U.S. Economy Squeezed by Record Debt, Higher Oil Prices, and Rate Hikes

U.S. Economy Faces Growing Financial Pressures

The U.S. economy is under pressure due to surging energy costs, a national debt that has surpassed $40 trillion, and anticipated Federal Reserve rate increases.

Economists warn that the combination of these factors could lead to economic growth slowdowns and financial market instability.

Higher oil prices driven by Middle East hostilities have pushed Brent crude to $108.45 a barrel, while diesel prices have hit a record high of $6.23 per gallon according to AAA data.

The Federal Reserve is set to announce its next interest rate decision on Wednesday, with many economists expecting policymakers to raise rates for the first time in over three years.