Despite Disastrous Jobs Report, Stocks Surged 1.6% Friday Since the Coronavirus bear market low on March 23, 2020, stocks have soared 26.8%! That’s only 14.5% off the all-time closing high on the S&P 500 on February 19, 2020. On the same day the Labor Department announced job losses that are literally off the chart, that the nation lost a decade of jobs gains, the stock market shot up by 1.6%! Why? Stocks are looking past the pandemic, at a sharp recovery. Here’s a look at three forecasts for the economy, from independent institutions. The most optimistic is the consensus forecast of 60 economists in early April. They expect a v-shaped recovery back to the pre-pandemic level of economic activity by the end of 2021. The international Monetary Fund forecast is a bit less sanguine, projecting that U.S. gross domestic product will be 1.5% smaller at the end of 2021 than at its pre-pandemic peak. And finally the least optimistic of the three forecasts is from the Congressional Budget Office, which project the economy will be 3% smaller at the end of 2021 than it was in the quarter before the outbreak. While the three forecasts differ about the precise strength of the recovery, That’s why, despite disastrous economic news, stocks have soared. Please contact us with any questions or to set up a meeting firstname.lastname@example.org , and don't hesitate to share this video with people who might benefit from our work
Durham, Raleigh, NC, Financial Independence, Wayne B. Titus III, Ed Fulbright,
The Beginning Of The End? The Coronavirus financial crisis is being compared to the near-collapse of the global financial system in 2008 and The Great Depression from 1929 to 1939, but there is one big difference this time: The Fed. The Federal Reserve Bank is using innovative new tools to contain the financial damage of the Coronavirus epidemic. In the financial crisis of 2008, the chairman of the Fed at the time, Ben Bernanke, an academic who had spent decades studying previous financial crises, repeatedly deployed a technique called quantitative easing, expanding the Fed’s balance sheet to buy back U.S. Government bonds on the open market to lower long-term interest rates. The tactic had never before been used by a central bank in a major economy. It worked! and QE was one of the reasons the U.S. recovered smoothly from The Great Recession of 2008 and 2009. The Fed’s response to the Coronavirus crisis is literally 10 times more powerful. Under the $2.2 trillion Coronavirus Aid, Relief, and. Economic Security Act enacted March 27, 2020, the U.S. Government allocated $454 billion to Federal Reserve Bank Special Purpose Vehicles that the central bank can leverage 10 to 1, enabling it to lend up to $4.54 trillion to companies. That’s reportedly more than all U.S. commercial and industrial loans outstanding at the end of 2019 plus all the new corporate bonds issued during 2019 combined! Although this expansion of the Fed’s power has been criticized already as a step toward a centrally planned economy, the government action limits the risk of massive corporate bond defaults. The U.S. led the worldwide economic recovery back from the global financial crisis of 2008, in part because of the Fed’s innovative approach, and Yankee ingenuity, in the form of the Fed’s new tools, is at play once again in fighting the Coronavirus financial crisis. Please contact us with any questions or to set up a meeting email@example.com , and don't hesitate to share this video with people who might benefit from our work
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Genevia Gee Fulbright discuss Late Tax Filing Strategies on NPR "Your Money" Segment.
As the Coronavirus continues to spread Raleigh, Durham, NC and worldwide, so do phishing attacks disguised as helpful information on the outbreak. Security experts report an uptick in phishing messages being sent to businesses and individuals on the topic. Many appear to be checklists and fact-sheets PDFs with information on cleaning or remote work. Clicking on these links or attachments will instead download malware on your machine that can hold your data for ransom or act as spyware