SAN FRANCISCO (KGO) --With the Fed raising rates and the stock market going crazy, what should consumers do?
You hear a lot of Wall Street big wigs and plenty of politicians, but what do the economists, who are focused on your money, think you should be doing?
"I am not concerned right now. I am concerned 12 to 18 months out," said Sean Callum, a banker in San Francisco's Financial District. "I am a long term investor. Stay in."
"The fundamentals of the economy are still sound," said David Payne, a Kiplinger economist.
He says the Stock Market is reacting to potentially diminishing growth opportunities overseas and the drop in oil prices, but the U.S. economy, he says, is strong.
"I can confidently say we are not going to have a recession this year. And I think that will be good for the stock market eventually," said Payne.
Over at Bankrate Chief Financial Analyst, Greg McBride, says the economy is strong as well, but still he doesn't expect the Feds to carry through with a full slate of rate hikes.
"The Federal Reserve thinks they are going to raise rates four more times in 2016. I think that's a little overly optimistic. I see two maybe three increases," said McBride.
But even with that, McBride says consumers should consider refinancing their mortgages and other loans.
"Any variable rate debt you have is going to be an exposure in 2016, in particular, credit cards, home equity lines of credit and adjustable rate mortgages. I expect all of those to see rate increases as the year unfolds," explained McBride.
And that brings us back to San Francisco's Financial District and a wise move we can all make.
"It is what it is. I can't fix it, I can't change it. I just have to save more money," said Joe Valdez from Las Vegas.
It is widely believed that the stock market is a better place to be than not, but remember there are no guarantees.