MECHANICSBURG, Pa. (WHTM) — Anyone who hasn’t thought about inflation in years is sure thinking about it now. And anyone who never gave any thought to the supply chain is thinking about that too. But could all of that change again? We asked a local expert to weigh in.

Rob Morgan is Senior Vice-President and Investment Strategist at Mosaic in Mechanicsburg. For now, the Federal Reserve plans to raise interest rates three times next year. If that happens, what would that actually mean for you and me?

“That should allow more people to get back to work faster. It should ease these supply chain constrictions that we’ve seen. And maybe even inflation will event peak and start to abate. If you’re trying to get a mortgage or a car loan or something like that, or you’re applying for a credit card. It’s just gonna put upward pressure on interest rates across the board,” Morgan said.

Nothing good to like about higher interest rates. Or, is there? “There’s a lot of elderly savers out there who’ve been complaining for a long time that they can’t get any money off their CD’s or their savings accounts, and in some ways, short-term rates going up, that could be a boom for them,” Morgan said.

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And for now, inflation has helped some of those same seniors who are getting a social security cost of living adjustment of almost six percent. So if you don’t spend much and you pocket all that, you can come out ahead. Although, Morgan says high inflation hurts more people than it helps.