BLOOMINGTON— As economic and political uncertainties continue to shape the financial landscape, Hoosiers seek clarity on the impact of stocks, tariffs and inflation on their daily lives.
To shed light on these concerns, WRTV spoke with experts from the Kelley School of Business at Indiana University in Bloomington.
"In general there's a lot of uncertainty based on what the stock market has done over the course of the last couple of weeks," Fitter explained. "It's down approximately nine to ten percent from the all-time high that we were sitting at in early February."
While uncertainty can be unsettling, Fitter reassures that this is not an unusual phenomenon.
Tariffs are another major concern, particularly because of their potential impact on inflation.
"Tariffs are something that we have had in the past, but there's concern that those tariffs could add to inflation," said Fitter. "Inflation has already been a problem over the course of the last three or four years coming out of the COVID pandemic."
With inflation still running higher than historical norms, many Indiana consumers are feeling the pinch.
For Hoosier families looking to manage their expenses during this period of inflation, Fitter suggests that consumers are shopping more frequently at warehouse stores like Costco or Sam’s Club, buying in bulk to get a cheaper price.
Many people are switching from name-brand products to generic or house-label alternatives.
Instead of shopping weekly, some consumers are going to the store less frequently and planning their driving routes more carefully to save money on gasoline.
One thing Fitter advises against is stopping necessary medications due to financial constraints.
Fitter emphasized that inflation has been particularly difficult for younger generations.
"As Hoosiers, we really haven’t faced high inflation since the 1970s but for many people today, it’s something new," said Fitter.
Certain goods and services have been hit harder than others, especially in Indiana.
"The big one in the media is egg prices, but really, the most noticeable increases here are in fuel, food, and energy costs," Fitter said.
Gasoline prices have been a major burden for commuters, particularly those traveling long distances for work in rural areas or between cities like Indianapolis, Fort Wayne, and Bloomington.
While tariffs often bring short-term challenges, Fitter notes that their long-term impact remains uncertain.
"Tariffs are not necessarily always bad," said Fitter. "The immediate impact is painful, but the long-term benefits sometimes take a while to appear but we have to remain balanced in our perspective and, most importantly, be patient."
