YORK (AP) – Federal Reserve officials paid a visit to the city of York. Fed Chairman Jerome Powell got an earful from a group of small-business people who are grappling personally with inflation, high interest rates, labor shortages, and other challenges of the post-pandemic economy. The business people were generally optimistic, but expressed a range of concerns: They are still having trouble finding all the workers they need. Higher interest rates have discouraged some from expanding. Kevin Schreiber, CEO of the York County Economic Alliance, said many are worried about the next 12 to 18 months and the prospect that interest rates will stay high and inflation won’t be fully conquered. A lack of child care is another top problem, Schreiber said, because it keeps many parents out of the workforce.
JEROME POWELL KEVIN SCHREIBER