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4 Your Money is brought to you by NelsonCorp Wealth Management.
Brandy Auterson-Hurst:
It’s now time for 4 Your Money. We’re joined by John Nelson, financial advisor at NelsonCorp Wealth Management. Welcome back, John.
John Nelson:
Thank you for having me, Brandy.
Brandy Auterson-Hurst:
So vehicle inventory and supply has been in the news lately. Could you share your thoughts on that?
John Nelson:
Yes, it has. There’s been a lot of discussion on that, especially recently with some of the UAW strike and a tough scenario overall for everyone involved, especially with the big three in Detroit. But what we’re seeing now, a number of months where things were improving, and I’ve got a graphic with me here today that illustrates this a little bit that just shows up until 2020, this was very calm. There was not much volatility either direction. But since that time in the pandemic, we’ve seen a lot of volatility in this space for used car prices, new and used. But what we’re seeing here is a little bit of a tick up in overall pricing, and I would fully expect with some of the challenges that are facing a lot of inventory problems, this is probably going to continue in this fashion.
Brandy Auterson-Hurst:
Okay, so what do you think this means for inflation going forward?
John Nelson:
Yeah, inflation. The Fed’s done a good job of bringing inflation down. They’re trying to get to their 2% target. I think that’s going to take a little longer than originally projected by many. But these used vehicle prices, housing overall, playing into that component, too, I think it’s just going to take more time than many had hoped from the start. Hopefully, things are short-lived with the UAW negotiations right now, but we will see and definitely a big component playing into the inflation numbers.
Brandy Auterson-Hurst:
If you missed any of our discussion, we’ll make it available for you on ourquadcities.com.