TULSA — The Federal Reserve announced they’ve chosen to keep interest rates stagnant. 2 News Oklahoma asked a financial expert what this means for the people of Green Country.
“The good news is we saw some inflation data yesterday. It’s the lowest it’s been in two years,” said Matt Frankel, a certified financial planner and contributing expert for The Motley Fool Ascent.
He’s right, but not by much. Core inflation sits at 5.3% right now, down from 5.7% percent last year and 5.5% in 2021. For Tulsans living their day-to-day lives, it won't mean much.
“It shouldn’t directly impact consumers too much at all because it’s essentially gonna be a non-event, but it’s gonna be a good non-event, that kind of signals, that maybe the worst of this inflation is behind us,” Frankel said.
Tulsans, and other people living in low-cost-of-living cities, have some relief at the cash register but are paying more for their homes.
“A lot of people are flocking to low-cost-of-living areas because they’re being priced out of everywhere else," Frankel said.
According to data from Redfin, in January, median home prices were about $200,000. Since that number has climbed to $240,000.
Big picture, Frankel says things are looking up, but a recession is still on the table.
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