Who is this dude Jerome? What is inflation? How is it affecting my pocket? 💰 ---- The market is down today because inflation numbers came in higher than expected. What does this mean to you? Inflation means the cost of goods are rising over time. This average cost is rising so fast that the Federal Reserve (The Fed...not the Feds, but they're cousins) is trying to slow down this rise by raising interest rates. When they raise interest rates, their intent is to make the cost of borrowing money from a bank more expensive which typically means that people will stop spending as much/often. When this happens, the price of goods won't rise as quickly because the demand isn't as high as it was prior to the interest rate raise. ---- The More You Know #NoStupidQuestions @moneylioninc