Fed Chairman Jerome Powell said on Monday that inflation is too high and that the FED is ready to take action as needed. Powell’s tone has shifted tremendously since last year, when he described the inflation we were seeing as "transitory," meaning that it would soon pass.
Luckily, there are ways we can use our money to offset inflation. Investing in inflationary times is a daunting task, you certainly do not want to lose money while the dollar is losing value.
Also Read: How The Fed's Rate Increase Will Affect You
Business Insider outlined Kevin Rendino’s top three stocks to beat inflation in a recent article. Rendino is a 34-year Wall Street veteran and CEO and portfolio manager of 180 Degree Capital.
See Also: Why Inflation During Times Of War Is Typical And Could Get Even Worse
Rendino's Top Picks
Potbelly Corp (NASDAQ:PBPB) Price At Press Time: $6.30
Potbelly is a fast-casual sandwich chain founded in Chicago. Shares of Potbelly are currently trading for around $6 a share, down more than 50% from its IPO price of $14 in 2017. Rendino’s 180 Degree Capital is the largest shareholder of Potbelly.
Alta Equipment Group (NYSE:ALTG) Price At Press Time: $11.83
Alta Equipment Group is a construction equipment vendor, founded in Livonia, Michigan. Rendino told Business Insider he likes Alta because it’s a company in a big industry, with not a lot of players in the space.
Arena Group Holdings Inc (AMEX:AREN) Price At Press Time: $9.21
Arena Group owns and operates media outlets, including Sports Illustrated and The Street. Rendino believes in the growth of these outlets, and that shares will grow along with the audience.
