‘Stock Doctor’ offers advice, insight on navigating choppy market

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ORLANDO, Fla. – The Federal Reserve this week is expected to once again hike interest rates as it works to slow the economy and reduce inflation.

The latest report from the federal government revealed inflation went up .1% from July to August and 8.3% year-over-year. The news prompted a huge sell-off on Wall Street as investors prepare for the Fed to aggressively raise rates.

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Wealth manager Lee Siler, AKA the “Stock Doctor,” joined anchor Justin Warmoth on “The Weekly” to break down what’s driving inflation and how to navigate the choppy market.

“I think you need to take a look at your portfolio and ask yourself how much risk you’re taking and how much risk should you be taking,” Siler said. “I see a lot of folks every day in their early 60s and looking to retire in 3, 4, 5 years, and they’re taking way too much risk in their 401k than they should be.”

Some of the longtime drivers of higher inflation — gas prices, supply chain issues, used-car prices — are fading, but prices for shelter, food and medical care continue to fuel the fire.

With a growing number of corporations, including Google, announcing layoffs in recent months, Siler recommends having 6 to 9 months of emergency funds.

“There is going to be job loss,” Siler said. “I’m not saying this is what the Fed wants, but this is just what happens when the economy recesses and rates increase.”

Watch the full interview in the video player above.

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