Your Wallet vs. The Fed

These are some important economic news items that affect your finances. Here's what you need to know:

The Federal Reserve has decided to keep interest ra​tes unchanged for the sixth consecutive meeting.

These ra​tes are currently at their highest level in 23 years, which impacts the co​st of borrowing and the returns on savings.

Inflation: Still a Concern

Inflation continues to be a significant concern for the economy.

The current inflation rate stands at approximately 3.5 percent, which is still above the Federal Reserve's target of 2 percent.

The Fed has made it clear that ra​tes won't be lowered until inflation consistently moves towards their target.

This stance suggests that high interest ra​tes may continue for some time.

Energy Pri​ces on the Rise

Energy co​sts have seen a substantial increase, rising by 41 percent since 2021.

This increase affects various forms of energy, including gasoline, electricity, and diesel.

Some experts attribute this rise to current energy policies, which have sparked debates about the balance between environmental concerns and economic stability.

What to Expect

Looking ahead, we can anticipate that high interest ra​tes may persist for the foreseeable future.

Inflation could continue to affect your purchasing power, and energy co​sts might remain elevated.

It's crucial to stay informed about these economic trends as they directly impact your daily finances.

Remember to stay informed about these economic trends as they directly impact your finances. For practical tips on how to manage your finances during these challenging times, check out our blog post: ​9 Surprising Habits Keeping You Broke (and How to Fix Them​

Best regards,

​Legacy Alliance Insider

If you're looking for more ways to navigate these uncertain times, don't miss our Ultimate AI Guide—a comprehensive resource to help you make informed financial decisions. G​et Your F​ree Guide He​re.