HAVE YOU SUBSCRIBED TO "Before the Bell?" https://www.youtube.com/channel/UCFmyKJKseEMQp1d14AjvMUw
(3/8/23) Jerome Powell testifies as expected to the Senate Banking Committee, promising more rate hikes for as long as it takes to quell inflation. There is now a 70% chance of a .5% rate hike this month; terminal rate is now anticipated to reach 5.6%. The only way to bring down inflation is to create a recession. Recap of Money Smart Kids presentation; the need for 20% down. The importance of Money Scripts and money conversations with kids. Just because people can save money doesn't mean that they will. Why limit savings accounts? The Secure Act 2.0 and re-thinking retirement; too many Americans cannot afford to save; mandatory savings to start at 3%; no more "set-it-and-forget-it." Rule of thumb: Save 30% of income; if you can't you have a spending problem, not a savings problem; the financial responsibility of Boomers. Jerome Powell & Elizabeth Warren disappoint with no fireworks, Biden's budget plans for Medicare & the political ramifications of fixing welfare spending. The Debt Ceiling elephant in the room: Government spending. The Texit Bill: A Republic once more?
SEG-1: Jerome Powell is Determined to Break Something
SEG-2: Raising Money Smart Kids, Boosting Retirement Savings
SEG-3: Rethinking Retirement Savings
SEG-4: Political Ramifications for Fixing Welfare Spending
Hosted by RIA Advisors Chief Investment Strategist Lance Roberts, CIO, w Senior Advisor, Danny Ratliff, CFP
Produced by Brent Clanton, Executive Producer
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Watch today's show on our YouTube channel:
https://www.youtube.com/watch?v=hThK1DhuA54&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=3s
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The latest installment of our new feature, Before the Bell | "Powell: More Rate Hikes Longer?" is here:
https://www.youtube.com/watch?v=gNQ6b2DVzVM&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1
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Our previous show is here: "Waiting for the Gadot Recession"
https://www.youtube.com/watch?v=I8JkXArrsFg&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=4s
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Articles mentioned in this podcast:
"Bear Trap? Market Holds Critical Support"
https://realinvestmentadvice.com/bear-trap-market-holds-critical-support/
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Video's referenced in this broadcast:
"Raising Money Smart Kids" | Richard Rosso & Danny Ratliff
https://www.youtube.com/watch?v=ly-09fRehKU&list=PLVT8LcWPeAujtF0xU6bHGcIrXFq2dFy2X&index=1
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Contact Us: 1-855-RIA-PLAN
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