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Another COLA Update - How Valid is the Most Recent Inflation Number?
Social Security specialist Devin Carroll issued an alert to Social Security COLA watchers this week that the program could be in for a “massive” cost of living adjustment in 2022. His forecast, delivered in the form of a video (which you can access here), suggests that the April inflation number just released by the Burau of Labor Statistics–a whopping 4.7%–just might be a reliable indicator of a like increase when the official third-quarter measurement is taken. Go ahead and watch the video for background on what Devin has to say, but keep in mind that, as he says and as all of us know, these are crazy times and anything could happen between now and the third quarter.
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