After more than a year of dealing with rapid inflation, consumers have become numb to higher prices. But as inflation cools, experts say there are strategies that can help you weather current conditions and prepare for a shift in interest rates.
.The October consumer price index increased 3.2% on an annual basis, according to the Bureau of Labor Statistics' monthly inflation report, down from a Covid-era peak of 9.1% in June 2022. The personal consumption expenditures price index — the Federal Reserve's preferred gauge — also shows signs of inflation cooling.
So how consumers can make the most of their money as the market anticipates the end of the Fed interest rate hike cycle and inflation declines closer to its target rate of 2%. The first place to look: your savings account.
The no brainer, and quite frankly, easiest thing to do is take that money that you have sitting in cash and make sure that you're getting the most from it. Here's how you can benefit from that move and others.
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by- ANDREW SMITH
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