We're seeing higher prices for just about everything. Is anybody doing anything about it?
Last week, the government reported consumer costs rose at the fastest 12-month pace in 41 years. As a result, the Federal Reserve accelerated its effort to tame inflation by kicking short-term interest rates up by three-quarters of a percentage point.
The Fed is trying to slow the economy — not crash it. However, some economists warn of a looming recession. Meanwhile, many major investment categories are down nearly 20%.
But hand wringing about big-picture money matters does little to fire us up about our own financial health, right? Instead, make a game plan.
