Federal Reserve, Ray Lucia, Jeremy Powell discussed on The Ray Lucia Show

Automatic TRANSCRIPT

Eight four four ratio four four Y S H O W. This is the Ray Lucia show. Why? Doc killing America better money to the program that would be my bad self and her bad then row in the how this our money power. You're gonna co host with me. She does this once a week. And I pay her huge amounts of money to learn how you doing. Well, how are you doing? I'm doing great. And so is the economy. I gotta start with us. Because it's a Stahnke. It really is astonishing Federal Reserve chairman, Jeremy Powell sees the US economy, generally generating highly optimistic expectations with the unusual combination of low unemployment and inflation fuelling hopes for an extended expansion. I'll talk more about that in a second. But as I asked you during the first part of this program for just our TV viewing audience. But now we have all the radio folks listening in to the ever seen it like this before about a Rafiq about what happened after World War Two when everybody came not old enough for that. I know but. So so people were coming back from the war, and what happened there was a huge economy because there was a lot of manufacturing. Making babies there were a lot of there was a lot of farming. Look what's going on. And we were supplying food all over the place. What's happening? Now recently that we haven't seen for a long time. We're making a lot of factory. Thousand or four hundred thousand some odd jobs. Well, it's not only manufacturer farming. You can go through the whole list. But I think the most impressive statistic that is rarely talked about is middle class incomes going up for the first time in like three decades. And I think because consumer spending drives what two thirds or more of the economy about seventy percent of the economy and the middle class is what drives that. So the middle class has more money in their pocket and certainly with the tax cuts. They've got more cash to burn. But if their wages are going up, the first thing that those of us in this business get concerned about is inflation. Well, the Federal Reserve job is to stave off inflation. And when we talk about what Jerome Powell had say, it's Goldilocks all the way, low unemployment. The low inflation and wages going up. Boy, if that is sustainable for the next couple of years, I think the market can still run we'll come back to that. But I want to start with something that's near and dear to your heart and that is healthcare. And I'm reading a study from the insured retirement institute. Healthcare annuities in retirement, introducing healthcare costs into financial planning conversations can increase savings and build retirement security, as I also mentioned before we got the radio folks on the line here when you and I grew up in this business couple of ancient history ago. We didn't really talk about healthcare a lot of people do their companies. And there was no such thing as long term care because I guess people died, I don't know. But I do know this today with life expectancies and healthy and wealthier couples with a fairly strong chance that one or the other. We'll get up there beyond the age of ninety five. It's a big deal. Sit back, folks..

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