Make no mistake: Higher oil prices are a headwind for an economy that doesn’t need one. But in context, it’s a relatively minor headwind, and not great cause for concern at this point.

Brad McMillan, CFA, is the chief investment officer at Commonwealth Financial Network, the nation’s largest privately held independent broker/dealer–RIA, where he also leads the retirement consulting division. McMillan holds the CAIA, MAI, and AIF professional certifications. He holds a BA from Dartmouth College, an MS in real estate development from MIT, and a BS in finance from Boston College.

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