SPRINGFIELD, Mass. (WWLP) – High fuel costs can have a negative impact on the country’s economy.
Gas prices and inflation, putting the U.S. economy into a frenzy. Mark Teed, Senior Vice President for Investments at Raymond James says people might not be expecting what’s to come.
“Oil is in everything. And when you get the spike that we got in the last year, people have not accounted for that so there’s a lag effect as well, so it could continue to get a little bit worse.” Mark Teed, Financial Advisor
A volatile economy can make people nervous in regards to their investments. But Teed says to leave your investment policies alone.
“However you think about inflation right now, is already built into the market. What’s being built in right now to the stock market is where we are five, six, eight months from now. So don’t change too much unless you’re going to try and outsmart the smartest people in the world, I would just stick with what you’re doing.” Mark Teed, Financial Advisor
Despite the massive impact inflation has had on the economy, not everyone is suffering.
Due to climate change, people were advised to reducing the amount of energy within their investment portfolio. Teed says now is the right time to rethink that advice.