How Is the Fed Dealing with the Recession?
As detailed in the 1978 amendment to the
Federal Reserve Act, the Fed's goals when setting monetary policy
are "to promote maximum sustainable output and employment
and to promote stable prices." Monetary policy has historically
been implemented through three main methods.
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Should We Worry about the Deficit?
A federal deficit occurs when the government's
expenditures for the year exceed its income. The government then
pays for those excess expenditures by borrowing money, adding
to the national debt. With so much stimulus money being spent
to prod the economy out of recession, the federal deficit will
reach record levels this year. According to the Congressional
Budget Office, the federal deficit will quadruple in 2009, from
$459 billion last year to $1.845 trillion this year
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Staggered Retirements
The Center for Retirement Research indicates
that only 20% of couples retire in the same year - 50% still have
one spouse working two years after the other spouse has retired (Source: Money, August 2008).
Often, one spouse retires before the other due to health problems
or a layoff, not necessarily because the spouse chooses to retire
early.
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Consider a Bond's Maturity Date
All investments seem more volatile these
days, including bonds. To help control volatility in your bond
portfolio, carefully consider maturity dates before purchase.
Bonds can be purchased with maturity dates ranging from several
weeks to several decades. Before deciding on a maturity date,
review how that date affects investment risk and your ability
to pursue your investment goals.
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Time to Straighten Out Your Financial Accounts
It's not uncommon to accumulate things over
the years, without taking time to straighten them out periodically.
That applies to our finances as well as to our possessions. How
many credit cards do you carry? How many stocks and bonds, brokerage
accounts, and individual retirement accounts (IRAs) do you own?
It's not just a matter of finding time to keep track of all these
different financial assets.
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