Record inflation triggers Wall Street drop

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Record inflation is having an effect on Wall Street and how New Hampshire residents are saving and spending their money.Stocks fell Friday after inflation hit a 40-year high. Financial planner Marc Hebert said a lot of people thought inflation numbers were going down, so to have them hit a new high was discouraging. Hebert advised Granite Staters to examine their personal financial situations and set a budget to see where they’re spending their money.According to Hebert, the Federal Reserve is doing what it can to help by raising interest rates, but that could be problematic if an over-correction leads to a recession. Hebert said inflation is tough to control.”There’s a feedback loop, so when prices go up, employees that work for corporations want to get wage increases,” he said. “There’s pressure on that. That usually happens, then the companies have to raise prices more, because they have more costs, and it feeds back into itself.”Hebert said it appears that inflation is here to stay for some time. He said he thinks it will be at least half a year until things return to normal.

Record inflation is having an effect on Wall Street and how New Hampshire residents are saving and spending their money.

Stocks fell Friday after inflation hit a 40-year high. Financial planner Marc Hebert said a lot of people thought inflation numbers were going down, so to have them hit a new high was discouraging.

Hebert advised Granite Staters to examine their personal financial situations and set a budget to see where they’re spending their money.

According to Hebert, the Federal Reserve is doing what it can to help by raising interest rates, but that could be problematic if an over-correction leads to a recession.

Hebert said inflation is tough to control.

“There’s a feedback loop, so when prices go up, employees that work for corporations want to get wage increases,” he said. “There’s pressure on that. That usually happens, then the companies have to raise prices more, because they have more costs, and it feeds back into itself.”

Hebert said it appears that inflation is here to stay for some time. He said he thinks it will be at least half a year until things return to normal.

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