SIU professor says current economic status is nearly unprecedented

Posted on January 18, 2022
Kevin Sylvester, an economics professor at Southern Illinois University in Carbondale, says the key to the historic rise in prices is simply Econ 101. (Photo courtesy: Pixabay)

By Dave Dahl

SPRINGFIELD – Kevin Sylwester, a professor in Southern Illinois University Carbondale’s College of Business and Analytics, says the current economic status is nearly unprecedented, as demand remains strong but supply is not.

“Unfortunately, there is no magic bullet here,” said Sylvester. “What we are seeing is supply disruption, and it’s not necessarily having to do with demand, and there is no really easy fix for the government to fix supply chains, for instance.”

Inflation has hit a nearly 40-year high in the United States, with prices spiking 7% over the previous year and marking the 18th consecutive month of increases. Meanwhile, the Federal Reserve has raised interest rates already and announced plans for further hikes in 2022.

Dave Dahl can be reached at [email protected].

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