7% Inflation + Rising Interest Rates = Tough Times Ahead For US Households
The December Consumer Price Index (CPI) data was just released and it shows a 7% annual inflation rate. That’s the highest inflation in 40 years.
Households are starting 2022 from a precarious position. Their excess savings from the stimulus programs are gone. Cost of living is skyrocketing. And interest rates are heading up — which may trigger a market correction and possibly also a recession.
If the latter two happen, then retirement fund and pension injuries AND job losses will be added to the mix.
The early indications here at the start of 2022 do indeed suggest that consumer households may well have tougher times ahead…
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