Interview Introduction for Guest Blake Harbin:
Entering 2022 it is impossible to ignore the staggering number of economic failures of the Biden Administration that have crippled America. Record inflation of 6.8% (“Bidenflation”) has decimated American jobs. The costs of basic goods to American consumers cannot keep pace with wages.
Now as our country enters 2022 the economic outlook is bleak. Continued inflation coupled with an announcement by the Federal Reserve of raising interest rates will shatter the hope of economic recovery for Americans. Specifically, mortgage interest rates will increase, their buying power will be reduced, and Americans will struggle to find affordable housing and keep their jobs.
Questions and Answers:
1. When should we expect to see interest rates increase in 2022 and by how much?
The only way to curb inflation and slow rising prices is by increasing interest rates. The Federal Reserve knows this, but it also knows that increased rates are counterproductive to economic growth leading to a slower recovery. We should expect to see interest rates increase at the end of Q1 based on the Fed’s announcement on January 6th but will depend on the evolving impact of the Omicron variant.
2. When can we expect to see prices decrease? How long will this historic inflation last?
Biden’s economic policy agenda is the worst possible approach to turning around the economy. Government spending exacerbates the weaknesses within our fragile economic environment. Anchored in spending more money, his approach will only accelerate further inflation and lead to severe economic fallout for Americans.
3. Will Biden’s “Build Back Better” bill be back? What should we expect from the Biden Administration next year in terms of economic policies?
Build Back Better in its current form died a slow death. The Senate Democrats need to look strong and united moving forward into next year so they will try to resurrect parts of the bill. However, the price tag of $1.75 trillion along with some of the specific programs generated opposition by two Democrats, Joe Manchin and Kyrsten Sinema, that will unlikely change.
4. How will inflation and rising interest rates impact the real estate industry.
Higher inflation and higher interest rates will limit the home buying power of Americans. Housing prices will continue to increase and substantially burden families. Higher home prices and increasing interest rates will lead to greater levels of debt by Americans. These compounding effects will substantially curtail home buying for Americans.
5. What can the Biden Administration and Congress do to prevent America’s further economic decline?
Our government must stop spending money. We must look at reducing the overall budget and cutting taxes. These are the two sure fire ways that lead to economic recovery. This is why the 2022 midterm elections are crucial for Republicans. If the party wins back either the U.S. House or the U.S. Senate Biden’s presidency is essentially over.
6. How can people learn more about your campaign or get involved?
Please visit my website at blakeharbin.com and follow me on Twitter @blakeharbinGA.
About Blake
Blake Harbin is the CEO of Houzzle Financial, a mortgage lending company in the Southeast. He has been a small business owner for more than two decades and is an expert in the real estate industry. Blake is running as a candidate for Georgia’s 6th congressional district in 2022.
CONTACT: To schedule an interview with Blake Harbin, contact Celinda Hawkins at (432) 349 – 2736 jerry.specialguests@gmail.com or Tamara Colbert at 626-244-5571 tamara@ohsweetliberty.com.
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