Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

The US economy expanded at its fastest rate in decades last year as it bounced back from lockdowns. Official figures from the Commerce Department revealed that the economy grew by 5.7% and by 6.9% in the last quarter – the highest growth since 1984. However, the US Federal Reserve announced this week that a rate rise is 'appropriate' soon, while analysts expect growth to slow this year, due to government scaling back stimulus spending. Rising inflation, new Covid variants, such as Omicron are further threats to the economy. The World Bank forecasts that the US economy will grow by 3.7% this year, while OECD said the UK’s GDP will grow by 4.7% in 2022 and is almost back to pre-pandemic levels. Major stock markets have been sliding in January, with the Nasdaq down 13.35% and Dow Jones 5.06% in the last month but have so far resisted a correction or full-blown crash. Billionaires like Elon Musk have been dumping billions of dollars of their own stock, a sure sign that they know the party is over. We are living i