Consumers falling behind on their car loan payments may be the next economic domino to fall as fears of a potential recession grow.
for the first time in nearly three decades and outlined an aggressive path of rate increases for the remainder of the year. New economic projections released after the Fed's two-day meeting showed policymakers expect interest rates to hit 3.4% by the end of 2022, which would be the highest level since 2008.
"Given the environment that we're in, you're not going to see, I think, much incremental pricing," he added. "If there's one area where I do think we have some capability to price left is on our electric vehicles. But we'll be very thoughtful about that." "We're very lean on inventories. We have an order bank that's significant at over 300,000 units," he explained. "So it's a completely different environment heading into what could be a potential recession than anything I've seen in the past."
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