Condition of economy 'terrible' as inflation hits fresh 40-year high: Investment expert

Kingsview Wealth Management Chief Investment Officer Scott Martin weighs in on inflation reaching fresh 40-year highs and the current economic landscape.

Only 17% of respondents rated the economy positively, the lowest in nearly 10 years. Eighty-four percent said it is in only fair or poor shape. And a 52% majority thinks it will be worse next year. This is the first time in intermittent surveys going back to 1998 that over half have felt the economy will be worse a year from now.

Meanwhile, 52% have changed their summer travel plans because of gas prices, 70% have had to cut back on other spending to afford necessities, and 75% say inflation has caused them financial hardship -- up from 67% in December.