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Churches Adjust As Talk of Recession, Inflation Impacts Ministry Costs

“The employment market is strong and people are in a good position to retain their jobs, but inflation is really taking a significant bite out of incomes,” Spika said. “It’s going to have an impact to some degree.”

History provides a good indicator that the current economic climate won’t last long.

“Since 1946, the stock market has never had a negative return in the 12 months following a midterm election,” he said. “There’s always volatility going into the midterms and the market, on average, declines 19 percent sometime during that year. We were down 20 percent.

“We’ll get a more balanced government through this upheaval. Nobody wants to pay $5 for a gallon of gas and not be able to afford a house or groceries.”

This article originally appeared at BaptistPress.com.