Traditionally, I’ve been a little cautious when people say, “it’s different this time.” After all, the past few years have seen more financial “firsts” than most. But despite that skepticism, this year saw five interest rate increases in seven months — making it the quickest tightening cycle in modern history. And with two more rate increases expected in November and December of this year, it seems clear that Fed Chair Jerome Powell is determined to keep adjusting rates until inflation is on track to hit the Fed’s target. |
The Fed knows that few financial events can be as devastating as high inflation over time – especially for those living on a fixed income. So the Fed is comfortable with some short-term economic uncertainty in pursuit of its long-term goal of price stability. I’m optimistic the Fed has a plan to tame inflation. In the meantime, if you have any concerns or questions about the current financial landscape, let me know. I’m always happy to hear from you. Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. |
