Inflation Just Hit 4.2%. Here's What I'd Do.
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Good morning, Inflation just moved back up to 4.2%. That's the highest reading we've seen in several years and it comes just before the Federal Reserve meets to decide on interest rates later this week. Here are a few numbers that stood out from last week's inflation report: • Headline CPI inflation rose 0.5% in May alone • Core CPI inflation remains at 2.9% year over year • Energy prices are up 23.5% over the past year • Food prices are up 3.1% • Shelter costs are up 3.4% If inflation continues moving higher, interest rates could stay elevated longer than many investors expected. But here's the bigger question: What should you do about it? My answer is the same whether inflation is 2%, 4%, or 8%. Focus on what you can control: ✓ Follow a written spending plan ✓ Pay down high-interest debt ✓ Build emergency reserves ✓ Continue investing consistently ✓ Avoid making emotional financial decisions based on headlines That's exactly why I teach the 4 Steps to Maximize Your Money framework. Economic conditions change. A solid financial system doesn't. And because several people asked for additional time... Enrollment for the 4 Step Financial Reset has been extended until 5:00 PM CST today. 👉 Learn about the Financial Reset In this week's YouTube video, I break down the latest inflation report, what it means for interest rates, and how it could impact your money moving forward. Remember: You cannot control inflation. You cannot control the Federal Reserve. You cannot control interest rates. But you can control your financial habits. And over time, those habits matter far more than any headline. If you'd like a deeper roadmap, start with my book: 👉 Get my book: Manage Your Way to Millions And if you'd like ongoing discussions, behind-the-scenes content, and a community focused on long-term financial growth: "The best person to take care of the old you... is the young you." — Eric Bowie |
