MECHANICSBURG, Pa. (WHTM) — There’s been good news and bad news on the economy this week but there’s some reason for hope.
Wednesday’s retail sales report showed a 3.8% jump in January almost twice as much as analysts predicted. But inflation remains high, and the stock market has been volatile, raising concerns about retirement accounts. Rob Morgan the senior vice president of a Mechanicsburg-based investment firm says that while things may feel like a mess right now, he believes things are poised to get better for your 401k.
“We’ve been in this two-year kind of winter, nighttimes caused by the virus and it does seem like we’re at the precipice of moving beyond that, maybe in slow steps. If you’re in the stock market stay there, if you have a regular investment plan, continue it,” Morgan said.
Morgan also says encouraging trends on employment and spending along with the decline of the Omicron variant, could mean supply chain shortages and staffing crunches will slowly begin easing up.