Banks offering advice on how to invest during times of high inflation rates

YANKTON, S.D.(WNAX)- Reports this week show inflation running at about 7.5%, the highest rate in forty years.

That is a challenge for anyone attempting to invest.

Todd Woods, a wealth and trust officer with First Dakota National Bank in Yankton, says diversity is the key.

Woods says their advice to investors depends on their goals.

Woods says the expectation is that the inflation rate slows down later this year.

Woods says they expect the Federal Reserve to raise interest rates next month which can also boost returns on savings accounts.