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Raise Consumer Costs
Federal agencies dont just regulate industries; they help them function.
To prepare, it is important to not overextend financially, given that things are volatile, Winegarden said.
People are uncertain whether they will have a job when they wake up in the morning.
It is the uncertainty … that makes things worse than they need to be.
Sectors and industries that are most likely to be affected by these cuts include healthcare, education and agriculture.
The firing and rehiring of federal employees creates financial uncertainty.
Consequently, these efforts could harm the economy and reduce the governments efficiencies, Winegarden said.
Razon said federal spending cuts could slow economic activity, which may reduce inflation if demand weakens significantly.
This could lower borrowing costs, which inadvertently lead to lower interest rates.
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