Commentary Inflation is here, and it’s breaking records. Currently, the inflation rate in the United States is 7 percent, the highest it’s been in 40 years. The spike is the result of a perfect storm of economic factors: a massive cash infusion into our economy combined with high demand for consumer goods and persistent supply chain issues. In the early 1980s, during a period of similarly high inflation, President Ronald Reagan said, “Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.” I tend to agree. In periods of high inflation, it’s a challenge just to maintain the value of your assets. Even savings accounts can’t provide protection from inflation. While most people assume that they offer modest yet stable growth, inflation actually cancels out any interest. In fact, putting your money in a savings account is a great way …
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