Wyoming Businesses Caught in Economic Crossfire Ahead of Fed Meeting

Main Street Wyoming businesses are caught in an economic crossfire between inflation and high interest rates. As Federal Reserve Chairman Kevin Warsh prepares for his first Jackson Hole symposium, entrepreneurs are torn about what they want him to do.

Tighe Fagan of Gannett Peak Technical Service said he's usually pro-growth and wants lower interest rates to speed up the economy. However, with costs rising due to inflation, he's now on the side of keeping rates solid or even increasing them to control inflation.

Warsh has been criticized for his handling of interest rates, including a recent decision that sparked a bond market tailspin and led to a 19-year high in long-term U.S. Treasury yields.

Some business owners, like Laura Lee Nelson of Stone Drug, would welcome lower interest rates to boost borrowing and spending. However, others, such as Realtors Alexander Lexington and Dominic Valdez, are unsure if lowering rates is the right move given current inflation rates.