Steve Rick - Chief Economist, TruStage | Source | Chief Economist at TruStage
Steve Rick - Chief Economist, TruStage
Steve is a director and the chief economist for TruSTage. He is an economic researcher, analyst and forecaster with an expertise in consumer markets and the credit union industry. Rick's forecasts are the starting point for the strategic planning process and help create a clear understanding of the underlying trends and links between the general economy, the financial services industry, and TruStage's policy owners.
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TruStage (https://www.trustage.com/business-solutions)
Chief Economist
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Inflation Is Unrelenting, Bad News for the Fed and White House
Inflation rose quickly in September and a key measure accelerated to the fastest pace since 1982, underlining the persistence of price increases.
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Economy added 263,000 jobs in April, unemployment falls to lowest level since 1969
It’s still a job hunter’s market, with more open positions than people available to fill them, pushing wages even higher as companies compete for the best workers.
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Lower Interest Rates: What Retirees Need to Know
Steve explains that lower rates reduce returns on money market funds and CDs. Fixed-income investments benefit from higher bond prices, while equities have already adjusted. Steve advises retirees to "lock in today’s high CD and bond yields before they fall over the next few months and years."
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We are starting to see persistent inflation creeping into the economy. We are really concerned about this turning into a wage price spiral, with wages rising and making it hard to get inflation down anytime soon.
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With another strong employment report in April, we’ve gotten reassurance that the labor market is staying on a strong and steady course.
