Feb 14, 2023
Summary:
The most recent consumer credit read was announced, and the number
is quite interesting. What is going on exactly, and what is the Fed
going to do about it? Matthew Johnson, President and CEO of Johnson
Wealth and Income Management, comes on the show to discuss this
topic and strategies for addressing the credit problem. Consumer
debt started to fall off in December of 2022, yielding $7.3
billion. This signaled the start of a cut in spending, wherein
consumers are beginning to feel the pinch of high costs and
re-evaluate their expenses. Unfortunately, the average consumer is
not in a position where their wages can support their buying needs,
causing an increase in credit card debt. We should expect at least
two more rate hikes before the Fed decides to halt, and it’s
crucial to start planning for the challenges that lay ahead. Tune
in to find out how you can start preparing now.
Useful Links:
Financial Survival Network
Johnson Wealth and Income Management