Financial and Economic Brief - October 1, 2021by © Liberty Publishing, Inc.
Is the Rising Price of Oil a Reflection of Higher Demand?
Even with some pundits pushing the “Green New Deal”, consumers are still loving gas powered vehicles. This is reflected by the price of Brent Crude now at $80 per barrel with some suggesting that Brent Crude will be at $90 per barrel by the end of 2021. Another interesting statistic is that global oil demand will be increasing by 100 million Gallons per day by the end of 2021 or by the 1st quarter of 2022. Oil is, of course, used in many industries, for example from; cosmetics to clothing.
The Revolution of Fast Food Restaurants using Robotics and AI is Upon Us!
The business dilemma that the fast food industry faces is the inability to hire enough people to work in food preparation and clean-up even when jobs pay a minimum wage of $15 per hour. Robotics companies are forging ahead with machine technologies that can perform each important task repeatedly, accurately, and cost effectively. At the moment several franchise operations are implementing Robotics and Artificial Intelligence (AI) in order to smooth out the bumps caused by a lack of able workers.
The Fed May Now be Poised to Raise Interest Rates
We should think twice when trying to guess what the Fed will do with interest rates in 2022 and 2023. However, based on employment numbers and inflation rates, the American economy may be ready for the Fed to gradually taper its purchase of bonds and mortgage backed securities. If they choose to make the move then it could happen as early as November 2nd – 3rd at the FOMC (Federal Open Market Committee) meeting. Raising interest rates would be the next step.