Inflation remains the biggest concern for small businesses even as price increases have cooled amid the Federal Reserve’s interest rate hikes, a recent survey found.
The survey, released on Friday by the Job Creators Network Foundation, found that when business owners were asked about the issue that was worrying them most, 49% of respondents in December said it was high inflation. That is up from 37% the year before and ties the series-high level of concern since the question was first asked.
“Despite rhetoric from the Biden administration, inflation remains three times higher than the Fed’s target rate, most small businesses say the economy is getting worse, and 57 percent believe the country is in a recession,” said Elaine Parker, the president of the Job Creators Network Foundation.
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