Federal Reserve executives are saying our economy is strong. We asked Luke Patterson of STA Wealth Management if he agrees.
“Consumer confidence is at an all-time high. People are optimistic about the future of the US economy. Tax policy is also seen as something as possible favorable for economic growth.
But with a strong economy, could higher interest rates be far behind?
“With the economy growing fairly well, low unemployment, high earnings, inflation around 2%, you can expect the Federal Reserve to raise interest rates.”
Patterson concluded that higher interest rates will mean money will just become more expensive.