Economy Poised For Growth, Inflation Lurks | Your Money 4-20-21

Signs show the economy is preparing to boom, but will it live up to the expectations?

In the latest episode of Your Money, Leo Daprile, of Gem Young Insurance and Financial Services in Canfield, discusses the outlook of the economy and potential inflation.

Daprile says that he’s paying attention to earnings, but will focus on the forecasts for the rest of 2021.

“We’ve had quite a run-up that we’re averaging between a seven and 10% return for most of the rest of the year,” Daprile says. “That’s a big turnaround to have happen.”

He said that a shortage of workers due to the combined income from unemployment and stimulus could hinder economic growth. Daprile says that in order for the consumer to see a benefit, wages must increase as well.

“If we have an increase in pricing but we don’t have an increase in wages, then no, that’s actually a detriment back to the consumer because there comes a disparity,” he said.

Original Air Date: April 13, 2021. Every Tuesday during the Dan Rivers show on News Radio 570 WKBN, Gem Young President Leo Daprile hosts a radio show called Your Money. Daprile brings his vast knowledge of all things “money” to discuss the topics in language everyone can understand.

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