What do The Dukes of Hazzard, M*A*S*H, and The Love Boat all have in common? They were top-rated television programs in 1982; the last time inflation was hovering in the 7% range.
When inflation is running hot, you can feel its overreach in almost every corner of the economy. People see it at the grocery store and when they buy gas, but its influence touches mortgage rates, credit card debt, and overall consumer confidence.
Managing inflation is the job of the Federal Reserve, and the Fed’s approach with monetary policy reflects its near single-minded focus on higher prices in 2022. The Fed raised short-term interest rates at its March meeting, and Fed Chair Powell signaled more is needed before the Fed can wrestle control of inflation.
It may be only a matter of time before the Fed’s policies temper inflation. Some see a change in the second half of the year, while others say 2023 is more likely. But in the months ahead, it’s possible inflation reports will bring back memories of Laverne & Shirley and Magnum, P.I.
If you’re feeling an inflation pinch, please reach out. We’d welcome the chance to hear your story. In the meantime, our team of professionals will monitor the situation and keep you updated if we believe any portfolio changes are needed.
Mary may be reached at (520) 495-2800 or Mary@schulzfinancialgroup.com.
Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC.
This material was prepared by MarketingPro, Inc. for use by Mary Schulz