GARLAND, Texas — The federal government is hoping its latest interest rate hike will help slow down spending, but it’s that very spending that’s helped family-owned businesses such as Garland-based Scoop N’ Buns.
Zoya Elsisura took a leap of faith when she stepped away from her nursing career to open up an ice cream parlor, bringing some of her own Filipino roots to the dessert world.
One of those ways is by incorporating ube into some treats they sell at Scoop N’ Buns.
“Ube is a sweet purple yam, so it, uh, it’s almost like a sister to a sweet potato, but it’s a root crop; and it mostly grows in the Philippines,” Elsisura said.
Elsisura opened up the ice cream shop in 2021, when the world was still very much upside down. Thankfully, she says they found a customer base who is willing to spend money.
“I just want to say to our supporters out there, ‘thank you so much for being with us since the first time we opened,’” Elsisura added.
In 2022, Americans are still spending money, despite a plethora of economic issues, including supply chain woes, inflation and subsequent interest rate hikes.
Dr. Michael Davis, an economics professor at Southern Methodist University, says less spending will give industries time to get supplies back up.
“What the Federal Reserve wants to do is make interest rates so high that people will quit spending so much money,” Davis said.
On Sept. 21, the Federal Reserve raised the interest rates by .75 of a percentage point. This is one of several hikes we’ve seen in 2022.
However, with the State Fair of Texas making a return, Texans are still looking to spend some money.
That’s why Elsisura and her team have created state fair-themed food the last two years. This year, Elsisura has created a churro flight dessert dish that offers a group of uniquely flavored churros with some sides of ice cream.
They’re one of several downtown Garland shops who are providing fair-themed items as a way for some North Texans to get a taste of the fair without breaking the bank.
“Sometimes there’s families that can’t afford to go all the way to Dallas,” Elsisura said.
While Professor Davis says he’s unsure when this uneasy economy will stabilize, Elsisura says she hopes her livelihood will remain steady.