Looking Ahead to 2014's Economy - KFBB.com News, Sports and Weather

Looking Ahead to 2014's Economy

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"Every year, the Wall Street Journal polls the top analysts out on the street, and they say, where do we think interest rates are going to be in a year from now, where do we think the market is going to be? And actually, not so surprisingly, over 80% every year are dead wrong," says Todd Buchanan with Buchanan Capitol.

Buchanan adds that though a financial forecast is speculation at best, intelligent calculations can still be made.

And the potential economical issues that could affect us are not surprising.

Buchanan tells FOX Montana, "The fed did say it's time to take their foot off the pedal a little bit with the economy. They've been stimulating the economy by keeping interest rates so low. This year alone, we've seen what we would call a spike in interest rates; a huge jump."

And if numbers continue climbing, Buchanan says those interest rates will continue to rise. But also, the still unsettled Affordable Care Act could hurt how much people will buy in the new year.

"We don't know exactly how much that's going to dent our ability or at least, our pocket book. Is it more or less than we spent on premiums last year? If it's more, we should anticipate that the consumer's ability to keep that buying level that we saw in 2013, it might go down a little bit," says Buchanan.

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