“Inflation in the US and around the world is a big problem right now.” There, I just told you what I know about the inflation. Even that much I heard it from somewhere.
But seems everyone is talking about it. Be it elected officials, candidates, economists, or my barber. They all point to the Fed on how much it will raise the interest rate to tame the inflation. Is this an echo chamber or do they really know?
Certainly, I do feel the effects of the inflation. Looking at the prices at the grocery store, gas pump, and monthly rent, they have been going up and up. Hence, a problem for folks on fixed income. Which is most of us.
Commonsense wise, I would be more selective and purchase only what is necessary. Which incidentally is what the Fed trying to achieve – cooling off the economy. But how long will that take? Would people lose their jobs as result?
Don’t ask me. I have no slightest clue.
How long do you think this inflation will last?
Running with Buddha 