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Christopher Mariani, August 9 2022

Will inflation come down? 

It is hard to say because there are so many factors to take into account. On the one hand, lower gas prices and higher interest rates should help. However, a declining dollar makes imports much harder to afford. Higher government spending and printing of more dollars will further devalue our currency. The new bill that will pass the senate and house calls for a 15% minimum tax on corporations. The positive side of this is that corporations will finally pay their fair share of taxes. There is a strong likelihood that they will pass that tax burden onto consumers in the form of higher prices for their products/services, which in turn, will fuel higher inflation. In other words, there doesn't seem to be any immediate relief in sight to combat inflation. I wish I had a crystal ball, but unlike most economists, I would rather state that "I just don't know what will happen long term". The best thing to do is develop a strategy for the short term of continued inflation and then hope for the best in the long term.

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Christopher Mariani

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