Inflation’s Impact On Your Life

Published on: 05/17/2021

Are recent price increases temporary or permanent?  Learn more as Tony Ogorek and Jeff Viksjo discuss inflation and how it affects your daily life.

 

 

TRANSCRIPT:

TONY:

Hi I’m Tony Ogorek, I’m here with Jeff Viksjo, and today we are talking about the big “I”, inflation.  We are getting a lot of inquiries from our clients about what inflation means for them in their life.  They’re seeing prices going up, they’re seeing a lot of ‘help wanted’ signs out there.  The government is telling us ‘don’t worry about it, it’s not a big issue’, but they’re seeing something different out there on the hussings.

JEFF:

Yeah, and like you said Tony, our clients no doubt have seen the prices of certain items start to increase.  If you’re traveling, rental cars are very, very expensive.  If you’re remodeling your home, the prices of lumber is sky rocketing.  Copper is sky rocketing.  So, the question is, are these price increases temporary or are they permanent?  Because when it’s permanent, it begins to be a larger problem.  And again, these price increases, right now, are limited to certain sectors. So we need to look at the broader picture. Is the overall economy going to have higher inflation to the point where it would affect the financial markets?  To that we need to look at wage growth, which we have seen as the main driver of more permanent inflation.  And we’ll get more into that tomorrow.

TONY:

Exactly.  So that is why we are devoting an entire half an hour of our lives to a webinar on inflation.  What it means for you.  What it means for the markets.  We’ve got some great charts to show you and we are looking forward to spending some time with you tomorrow. Hope to see you then!

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