Worried a Recession Will Hit? Here's How to Gear Up
On June 15, the Federal Reserve raised its federal funds rate by 0.75%, the largest increase in 28 years. The reason for such a rapid rate hike was to slow down inflation, which has been battering consumers for months on end. But rate hikes are apt to make consumer borrowing get more expensive, and as such, spending is likely to shrink in the coming months.
If consumer spending declines fast enough, it could be enough to spur a recession. And as an investor, that may be a worrisome scenario to contend with. But if you make these three moves in the coming months, you can set yourself up to weather an economic storm.
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Source Fool.com
