Mesirow
July 06, 2022
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Inflation, Interest Rates, and Your Pocketbook

At the onset of the pandemic, the US Government and the Federal Reserve took aggressive action to support the US economy as it went into a self-imposed shutdown. Congress passed the Cares Act which provided the public with stimulus checks, and the federal funds rate was lowered to nearly zero. The goal of these policies was to flood the economy with dollars to fight off instability and unemployment until the virus could be contained.

Over two years later, we are experiencing the inflationary effects of those stimulus programs. The Russian invasion of Ukraine further jolted inflation as the commodity and oil markets spiked and supply chain disruptions worsened.  Today, inflation continues at the highest rate since the early 80’s and the Federal Reserve is taking action to combat it. This article discusses how such an environment could affect your personal finances.

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