Plan for the Worst and Hope for the Best - Dave Scranton #5677

Summary: The stock market may be going up, but we’re worried about the Fed making a misstep. Dave Scranton comes on the show to unpack the current interest rate situation, explaining why they shot up sporadically and what needs to happen going forward. Ultimately, the Fed started this process too late and reacted too drastically, resulting in an undesirable outcome for everyone. Dave suggests that we need congressional support, with business friendly and pro supply chain policies to properly manage inflation. Tune in for more insight, and for expert advice on how to protect your finances in the meantime. Highlights: -They’re not getting a lot of legislative help in regard to managing inflation, and their only available tool is raising rates -What will happen if the Fed arises 75 basis points? The markets will react negatively, because we’re starting to see inflation getting more tame. Ultimately, the Fed started late and reacted too drastically -We need Congressional support. With inflation, we can squash down demand, but this could kill the economy before it kills inflation -This situation requires smart policies coming out of D.C. that are business friendly and pro supply chain -Dave likes to focus on what we can control within our personal finances. Plan for everything up until the catastrophic worst -Evaluate what you can do/provide that people actually need -The only way to protect yourself is to put your money into things that generate enough money and dividends so that you are not worried about daily principal fluctuations Useful Links: Financial Survival Network Sound Income Group