The inflation rise started in early 2021. Since May, it’s been somewhere above 5% or so, YoY. Are you facing COVID-related challenges? Who can help you with a reliable and low cost high risk merchant account?
COVID-19: Inflation Issues
Inflation occurs when a central bank puts too much money into circulation to pay for government debt or just to stimulate economic activity.
Jerome Powell, Federal Reserve chair, has recently said that Americans should expect the global supply chain crisis remain through 2022. The central bank is preparing to face the anticipated challenges for the U.S. economy.
On the other hand, Treasury Secretary Janet Yellen has mentioned that the problem won’t probably be permanent. Yellen thinks the situation will get better by the middle to end of 2022. Besides, she’s noted that monthly rates of inflation are already dropping from earlier this year.
Inflation Crisis: Need a High Risk Merchant Account?
Companies worldwide are struggling with supply chain bottlenecks. There is a post-COVID spike in demand. Industrial production is struggling to catch up after lengthy shutdowns related to COVID-19.
There are economists, strategists, and business executives warning about high inflation that is likely to be actual in 2022 and beyond. As for consumers, higher prices are likely to stay with them for longer than expected. As to investors, they’re likely to expect that the Fed doesn’t raise interest rates more quickly than projected.
With that being said, it’s more vital than ever to work only with an expert payment processor that can help you fight the current crisis. Thanks to a reputable merchant processing company, you can enjoy quick access to the most reliable and cheapest merchant services, including a high risk merchant account.
Supply Chain Caused Inflation
The Federal Reserve bears responsibility for fighting inflation. Some professionals in the field think the inflation crisis will be temporary. Others expect it’ll continue in 2022 and beyond. The crisis is largely caused by the supply chain mess that is affecting both consumers and businesses worldwide. Work with a respectable payment processor for quick access to the most secure and lowest cost merchant services for your eCommerce business.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.
