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Social Security benefits will get small cost of living bump - Oct. 9, 2012 - 0 views

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social security benefits will cost living bump

shared by bparksj28 on 09 Oct 12 - No Cached
  • The Labor Department will release its September inflation reading on Oct. 16, which is the final of 12 readings used to calculate the cost of living adjustment made annually to benefits. The Social Security Administration will announce the 2013 benefit increase at that time. Benefits increased by 3.6% in 2012, when inflation was higher.
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Federal Reserve official wants low interest rates until unemployment falls to 6.5% - No... - 0 views

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shared by bparksj28 on 28 Nov 12 - No Cached
  • Charles Evans, president of the Chicago Fed, wants the central bank to keep the federal funds rate near zero until unemployment falls to 6.5% -- a jobless rate not seen since 2008.
  • in January he will rotate into a voting role on the Fed's policymaking committee. For about a year, he has been urging his colleagues to publish clear economic targets that would guide the central bank's policies.
  • . He wants to see the unemployment rate fall to at least 6.5% and inflation not exceed 2.5% a year
  • ...5 more annotations...
  • hope behind the policy is that numerical targets will lift some of the mystery surrounding the Fed's decisions.
  • As economic data is released, the public can base their expectations for Fed policy on a clearer picture of the central bank's goals.
  • "I support this approach because it would enable the public to immediately adjust its expectations concerning the timing of liftoff in response to new information affecting the economic outloo
  • The Fed has kept interest rates near zero since late 2008 in an effort to stimulate the economy. While the unemployment rate has since fallen slightly to 7.9%, the Fed is still unsatisfied with that level and has been pursuing additional alternative policies to boost the economy further.
  • The Fed's policymaking committee is next scheduled to meet Dec. 11-12.
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