The Ultimate Guide to Inflation and How to Protect Your Business
Currently the single value rate of inflation is surpassing most economists' predictions. Also surpassing their predictions is the length of time we will experience inflation. What was once thought to only last thru 2021 is now predicted to last far longer. According to The Associated Press, “Higher prices will likely last well into next year, if not beyond.”
In order to control the overwhelming increase in prices the Fed will need to raise the fed funds rate. In September, the Fed announced that America should expect at least two Fed rate hikes in 2022. Economists predict these increases will be sooner than anticipated as the consumer price inflation continues to skyrocket.
But how will businesses handle the increased interest rate, in addition to the increased cost of their raw materials and the demand for higher pay from employees (to compensate for inflation?) The need for a financial strategist has never been more evident. Contact Coveted Financial today to protect your business. Call us at (331) 442-4472.