Utah's Economy: Inflation, Interest Rates and Utah Banks

In conversations with business owners, most express serious concern that the U.S. economy is on the threshold of high rates of inflation, but at the same time they almost unanimously report lower prices and wages for their business. Indeed the average wage in Utah in the past year has increased less than one percent. Despite lower costs they worry that the projected record federal deficits, and the expansion of the Federal Reserve balance sheet, means that price instability is just over the horizon. Trillion dollar deficits and the historic intervention by the Federal Reserve to pump up the financial system will surely lead to high rates of inflation.

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