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How Will Americans Spend Their Emergency Stimulus Checks?

With the COVID-19 pandemic negatively impacting the lives of millions, this week the United States Congress has been attempting to pass a massive stimulus bill that would offer relief to some workers and businesses. As of this writing, the details of an apparent deal reached in the Senate are not...

Tax Day 2020 is Now Officially July 15th Federally

Following a previous announcement that the Internal Revenue Service (IRS) would push back the 2019 tax payment deadline to July, the agency has not decided to delay the filing cut off as well. As a result, for 2020, Tax Day will not be on April 15th but July 15th instead....

IRS Extends 2019 Tax Payment Deadline to July

As the COVID-19 outbreak worsens, the virus is also wreaking economic havoc as many businesses are forced to close. In response the White House has been floating a number of emergency measures, including bailouts for certain industries and cash payments for the majority of Americans. Additionally this week the Internal...

Longest Bull Market in History Ends Amid Pandemic

Just days after celebrating its 11th anniversary, the bull market in the U.S. — the longest in history — has come to a dramatic end. Despite some rallying efforts that followed major sell-offs last week, the continued spread of COVID-19 coupled with an oil price war has sunk the markets...

U.S. Adds 273,000 Jobs as Economy Braces for COVID-19 Impacts

This morning's jobs report shows the United States economy adding an incredibly strong number of jobs during the short (but one-day longer than normal) month of February. Moreover the underline unemployment rate fell once again. However it seems difficult for economists to focus on that when several unknowns threaten to...

Federal Reserve Cuts Interest Rates as COVID-19 Spreads

When the United States Federal Reserve cut interest rates by a quarter-point in October, it was expected that no further cuts would occur in 2020. However, with the novel coronavirus — officially known as COVID-19 — threatening the global economy, the Fed made the rare move of adjusting their benchmark...

Morgan Stanley to Acquire E*Trade

When Charles Schwab announced it was lowering its trade fees to $0 — following the lead of FinTech startups like Robinhood — it was clear that a shake up to the brokerage industry was underway. Sure enough, within days, several other firms including TD Ameritrade, E*Trade, and others revealed that...

Fidelity Finds Average Retirement Balances Hit Record High in 2019

During his State of the Union address a couple of weeks back, President Donald Trump continued to tout the strength of the United States economy. Indeed the stock markets did have a strong (albeit bumpy at times) year in 2019 — but how does that impact the average American? Well,...