In a day many people were anticipating with baited breath, the Fed will be raising the rates today in yet another move to hold off inflation. This time will mark the fourth time the Fed has raised the rates by 0.75 basis points in such efforts.
With the risk of a recession staring us in the face, the Federal Reserve remains steadfast about aggressive rates hikes once again.
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What Does Raising the Interest Rate Again Mean for Inflation?
This is the fourth time this year that the Federal Reserve has made the aggressive move as efforts to slow down the economy are in full force. With a recession on the horizon, what does this all mean for us?
In the short term it means that it’s a clear signal that the Fed officials are working hard to combat inflation, which is at it’s highest rates in 40 years. Consumer prices need to come down, and this move will inflict pain on not only businesses, but entire households as well. There isn’t a clear plan or sign of when this will stop happening, and nobody can predict if they will scale back when we officially hit a recession. We still have meetings coming up in December, as well as February, and I wouldn’t doubt that rates get increased once again.
So what can you do about this?
What actions should you take?
As my colleague Arthur always shares, you should be buying precious metals. Look how they reacted to the announcement.
As advocates of taking action in this wealth protection plan, we’ve created the following resources for anyone looking to learn more about protecting your savings by investing in precious metals. Please view the resources below along with my notes:
–> OR, skip ahead and get a free gold IRA guide from our recommended vendor, Goldco Precious Metals.