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Written by: Benjamin Bimson CIMA®, CMT® / CIO, BCJ Financial Group There is no doubt an attention shortage on the current Presidential election. The details of which candidate will win has increasingly been sidelined by the one pressure that is affecting both sides of the isle – the demand for more fiscal relief. It can be incredibly difficult to isolate strong political preferences from the impact of yet another large and meaningful fiscal relief package. To date, Corona Preparedness, Families First, Coronavirus Aid, Relief and Economic Security (CARES), PPP/Health Care Enhancement, and the Loan to airline industry has reached approximately… [...]
Social Security beneficiaries will see a modest increase in the 2021 cost-of-living adjustment (COLA). The 2021 adjustment of 1.3 percent will increase benefits for roughly 70 million Social Security beneficiaries resulting in an average increase of $20 per month for each recipient.1,2 This 1.3 percent increase may be viewed to pale in comparison to the previous years’ adjustments of 2.8 percent in 2019 and 1.6 percent in 2020. However, it’s important to keep in mind that this adjustment was designed to keep Social Security benefits in pace with inflation, tying the annual COLA to the increase in the Consumer Price… [...]
Guest Post by Ned Davis Research Global manufacturing continued to show strong signs of recovery in September following the COVID-induced lockdowns earlier in the year, giving us further signs that the global recession is over. The global manufacturing PMI increased 0.5 points to 52.3 in September, its highest level since August 2018. It was the third straight month of expansion and the fifth successive increase in the index, albeit that smallest inthe sequence. COVID losses recuperated The latest reading in the PMI is historically consistent with 3.3% annual global industrial production growth, which is released with a several month lag.… [...]
In March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provided a six-month automatic payment suspension on federal student loans through September 30, 2020. In August, the president signed a memorandum to extend federal student loan relief through December 31, 2020. What does this mean for student loan borrowers? All borrowers with federally held student loans will have their payments automatically suspended through 2020 without penalty. In addition, no interest will accumulate on the loans — the interest rate will remain at 0% through 2020. Collections on defaulted loans will also be halted, and borrowers with… [...]
In this Q3 recap: stocks post further 2020 gains as the economy bounces back and the Federal Reserve announces a shift in its approach to inflation. THE QUARTER IN BRIEF The summer brought an economic rebound and a continuation of the stock market rally that began in spring. In late September, the Federal Reserve Bank of Atlanta’s GDPNow tracker estimated real Gross Domestic Product (GDP) growth of 32.0% for the third quarter. All three of the major Wall Street benchmarks advanced in Q3; the S&P 500 added nearly 8%, ending the quarter up about 4% for the year. Even so,… [...]