38 Search Results for: covid

  • June 2020 Newsletter – How Are We Going to Pay For All This?

    Posted on May 22, 2020

    The largest federal budget deficit since World War II came back in 2009, as slower growth and increased government spending during the subprime-mortgage financial panic pushed the deficit to 9.8% of GDP. This year’s the budget deficit will, quite simply, blow that record out of the water. The Congressional Budget Office recently totaled up all the legislative measures taken so far – as well as the effects of a weaker economy (payments for unemployment benefits would be going up even with the recent law) – and they estimated this year’s budget deficit at $3.7 trillion, which they forecast would represent…read the full article

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  • Market Commentary: Drop in GDP Expected to Continue

    Posted on May 4, 2020

    Economic news indicated the economic damage from COVID-19 continues to grow. U.S. gross domestic product shrank 4.8% in the face of the coronavirus and social distancing designed to combat its spread. Next quarter, expectations are for a nearly 30% decline. Initial unemployment claims fell to 3.8 million. The number of claims remains high, and the six-week total is more than 30 million.

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  • May Monthly Newsletter – 4 Ways the CARES Act Impacts Retirement Planning

    Posted on April 29, 2020

    In response to the halting U.S. economy, set off by the coronavirus pandemic, the federal government passed a massive emergency funding bill to protect and support American businesses, hospitals and individuals. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is a far-reaching bill with over 1,000 pages of text that detail the funding, loans, and tax provisions designed to provide economic relief. The CARES Act also includes changes that will impact individuals retirement income strategies, including how they use their IRAs and 401(k)s. Four main areas of retirement planning impacted by the CARES Act are: RMD’s, 401(k) loans, the new coronavirus-related distribution exception, and charitable…read the full article

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  • Market Commentary: U.S. and Foreign Leaders Moving to Open More Businesses

    Posted on April 27, 2020

    Leaders around the world announced steps to open up their economies by gradually reducing social distancing as the global economy continued to struggle. In the U.S., more than four million people filed initial claims for unemployment.

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  • Market Commentary: Investors Optimistic Over Slowing COVID-19 Cases

    Posted on April 20, 2020

    Similarly to last week, investors had to weigh progress fighting COVID-19 and what that means for the future against the economic toll the virus and policies designed to slow it are having on the economy.

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  • Market Commentary: Stocks Rise in Hopes that COVID-19 Slows

    Posted on April 13, 2020

    Investors were faced with a combination of optimistic and pessimistic news this week and opted to accentuate the positive. Health care data reinforced the gradual success social distancing is having in curtailing the spread of the virus.

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  • Market Commentary: Unemployment Rises, China’s Recovering Economy

    Posted on April 6, 2020

    The measures slowing the spread of the coronavirus are dealing severe challenges to the U.S. job market. Social distancing has proven difficult for day cares and dentists, restaurants and retail. As the accompanying chart shows, last week, 6.6 million workers filled for new unemployment benefits.

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  • CARES Act Summarized

    Posted on March 31, 2020

    As the stock market hit its lowest returns since the 2008 Financial Crisis, the government stepped in in an attempt to boost the economy.

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  • April Monthly Newsletter – Historic Weeks in the Markets: COVID-19-Induced Selloff

    Posted on March 30, 2020

    As the coronavirus (“COVID-19”) continues to spread on a worldwide basis, markets have been wrestling with how to interpret the potential economic impacts and the inevitable chain reaction now in motion.

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  • Market Commentary: Relief Package Enacted as Unemployment Sharply Rises

    Posted on March 30, 2020

    Markets look forward and, at least for a week, saw signs government is willing to provide support to get the economy through the coronavirus pandemic. The centerpiece of the steps announced last week was a $2 trillion package designed to keep people employed and support those who have lost their jobs.

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