There is no hiding from it: we are living in a scary time. Not only because of the horrible crisis in Ukraine, but also because of what is occurring in the financial markets. Oil prices, inflation, market volatility and uncertainty are all rising. At the same time, our social media newsfeeds and daily conversations are filled with countless people sharing their opinions on these topics, despite most not truly knowing the intricacies of what they are discussing. To help investors cut through the noise and better understand what is truly going on, The Steve Gruber Show recently turned to Terry Sawchuk, founder and chairman of Sawchuk Wealth.
One example of Sawchuk’s deep understanding of the financial markets is how he is often able to get in front of and anticipate many of the current issues at hand, such as oil’s staggering cost. “You and I talked about this a couple of months ago,” Sawchuk tells Gruber. “I told you gas was heading to five dollars a gallon. It’s probably going to six or seven dollars before it finally peaks out.”
Another topic that is concerning many investors is inflation. However, while it currently seems like a major issue, Sawchuk believes that rising prices may soon be coming to an end. Rather, he thinks the larger concern at hand is a potential recession. “Inflation right now, I know it feels pretty crummy, but it is going to roll over. By the back half of this year, we are staring at the barrel of a recession,” Sawchuk explains. “Whether it hits the fourth quarter of this year or the first quarter of next year, I think it is really going to be difficult to slow that train down right now.”
Click here to watch the entire segment.
Any information discussed in this article is for educational purposes only. It is not meant to be any kind of recommendation or financial advice. The information contained in this video is intended for informational purposes only. Any opinions are those of Terry Sawchuk and not necessarily those of JW Cole Financial, Inc. or JW Cole Advisors, Inc.
Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Sawchuk Wealth and JWC/JWCA are unaffiliated entities.