Consumer prices fell by 0.8% on a seasonally adjusted basis in April, the biggest drop in more than a dozen years, the Bureau of Labor Statistics reported. Conversely, prices for grocery items jumped 2.6%, the highest one-month increase in 46 years, with eggs rising by 16%.1 What’s going on here? Well, the devil is in… Read More
In normal times, the stock market is often a reflection of the economy. But these are not normal times. Even though April was marked by a global shutdown of businesses, rampant unemployment and low economic growth, the S&P 500 Index ended the month up 12.9%. This represented the highest one-month gain since 1987 and posted… Read More
Sole proprietors in the U.S. caught a huge break in April. The Paycheck Protection Program, borne out of the economic hardship caused by the COVID-19 pandemic, became available to solo entrepreneurs and independent contractors on April 10, 2020.1 According to a 2017 survey, 36% of U.S. workers are part of the gig economy.2 With so many… Read More
On March 27, 2020, President Donald Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a historic $2 trillion stimulus package designed to provide economic relief to Americans affected by the coronavirus pandemic, which by now includes every single person in the country, not to mention around the world.1 While everyone… Read More
As the COVID-19 strain of the coronavirus flows through our nation’s population, many Americans may find themselves working shorter shifts, working from home, on paid or unpaid medical leave, furloughed or even laid off. While additional remedies from federal, state and local governments may be forthcoming to help households sustain financial stability, there are programs… Read More
Financial advisors often tell clients to keep an emergency fund of liquid assets, with enough to cover three to six months of living expenses. It makes you wonder why America’s largest companies don’t maintain a similar practice, with three to six months of emergency savings to help keep workers on payroll during difficult times. Unfortunately,… Read More
Recently, President Trump bemoaned the inconveniences of low-flow toilets, showers, dishwashers and energy-efficient lightbulbs – all implemented in the wake of government regulation aimed toward conservation efforts.1 One issue in the political divide between parties is disagreement about the role of government in the economy. When Congress passes legislation or the administration’s Cabinet departments impose… Read More
