On March 20, 2020, the Department of Education announced terms for student loan relief for tens of millions of borrowers in response to COVID-19. Here are answers to some questions about the new rules. For more information and to follow subsequent potential rule modifications, visit the federal student aid website. Does the student loan relief…
In late March, Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act. This $2 trillion dollar package aims to address the financial pressures faced by individuals, businesses, and state / local governments due to the pandemic. You have probably heard a few things about the CARES Act already. Here, it’s our aim to…
Due to the coronavirus pandemic, the due date for filing federal income tax returns and making tax payments has been postponed by the IRS from Wednesday, April 15, 2020, to Wednesday, July 15, 2020. No interest, penalties, or additions to tax will be incurred by taxpayers during this 90-day relief period for any return or…
Dear Clients, Monday brought another volatile day of market activity and we know that – even if we haven’t heard from you – you may be experiencing some anxiety. While you’re probably receiving a message from every email list you’ve ever been a part of on what they’re doing with regards to COVID-19, we…
Negative sentiment concerning the coronavirus has been relentless, which has been spurred by media coverage and a variety of governmental actions to combat the contagion’s spread. Most recently, these have included the President’s temporary ban on incoming flights from Europe (which appeared to be a catalyst for today’s -7% trading halt—the second in a week),…
As if markets hadn’t produced enough volatility already in recent weeks, this morning’s initial drop of -7% triggered stock exchange circuit breakers—a computer system intended to temporarily stop trading activity, with the purpose of stopping a free fall in prices that can be exacerbated by algorithmic trading. What changed? There have been more coronavirus cases,…
Whether at home, work or on a cell phone, it’s a scenario many Americans have found themselves in: answering a phone call only to find out it’s from an unwanted robocall. In fact, the number of unwanted robocalls in this country has skyrocketed in recent years. The Federal Communications Commission (FCC) ranks unwanted robocalls highest…
What has been/will be the impact of the coronavirus on the global economy and markets? The spread of the new coronavirus has taken over the headlines and hijacked market sentiment in recent weeks. Thus far, through available medical data, it appears that while the virus appears more contagious than the similar SARS epidemic in 2003,…
The term ‘outlook’ can be misleading, as most forecasts tend to be partially to very off-base in hindsight. So, this question is best answered as a summary of whatever is currently top of mind going into the New Year. Some of these may change from year-to-year, while others have been ongoing. Presidential impeachment proceedings Now…
The Federal Reserve Open Market Committee decided to keep the fed funds target interest rate unchanged—at a level of 1.50-1.75%. This was widely anticipated as Fed committee members, through various speeches and other comments, have been hinting that they’re essentially ‘done’ with rate cuts, for the time being, absent any further deteriorating data. Fed funds…