The Consumer Price Index (CPI) came out higher than expected on Feb. 13 and the stock market tumbled. Understanding economics is essential to everyone’s financial situation.
Inflation is a hot topic and everyone feels it. According to Federal Reserve Economic Data (FRED) compiled by the Federal Reserve Bank of St. Louis, unemployment generally has nothing to do with what goods cost.
The saying goes, “The cure for higher prices is higher prices.” But the real cure is to stop buying things — to refuse to pay those higher costs. We all need food, shelter, health care, safety and security, and people are needed to realize these things.
Without efficient, competent, reliable workers, companies cannotearn a profit. Companies need reasonable profit and people need reasonable prices. More people need to earn, thus more people need to work.
You have a choice of where and how you choose to spend your money. Choose wisely.
Tammy Wolf
Pearl Harbor
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