Article originally appeared on amac.us.
Amid widespread economic turmoil last year, and with little wiggle room in monthly budgets, many seniors visited food banks for the first time, found inflation fees tacked onto their nursing home bills, and were even pushed to the brink of poverty. While a few policy changes will thankfully bring some relief, 2023 is still shaping up to be another tough year for seniors. Here are five things to keep an eye on in the months ahead.
1. Persistent Inflation
While inflation fell to 6.5% in December from a peak of over 9% in June 2022, it’s still well above the Fed’s target rate of 2%. Although the Biden administration is adamant that inflation will continue its downward trend, other economists and financial experts aren’t so sure. Famed investor Michael Burry said in January that another inflation spike is “almost certainly” in the cards …
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