Michael Wagner Comments on the Federal Reserve Interest Rate Hikes in The National Desk
Omnia Family Wealth Chief Operating Officer and Co-Founder Michael Wagner recently spoke to The National Desk in response to the Federal Reserve raising benchmark interest rates by another 75 basis points.
As interest rates rise, Wagner says that the most important thing is to not make decisions based on panic. He told The National Desk that if a person is able, that they continue to invest and follow through on a planned home or vehicle purchase.
“This is the world that we’re in today and I would hate for you to wait and see rates go even higher with the hope that maybe prices will come down,” Wagner said.
The Fed pointed to supply and demand imbalances related to the pandemic and elevated food and energy prices as drivers of inflation, and that members anticipate more rate hikes will be necessary to achieve maximum employment and price stability goals.
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