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bparksj28

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.
bparksj28

Is There Hope for High-Debt Economies? - Real Time Economics - WSJ - 0 views

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shared by bparksj28 on 12 Nov 12 - No Cached
  • . Out of 22 advanced economies in the mix, 14 of them breached the 100% debt-to-GDP threshold at least once between 1875 and 1997. (The high debt came from nat
  • The good news: the nations that built up high debt still exist.
  • The bad news: working off heavy debt loads takes an incredibly long time. Fifteen years after breaching the 100% mark, the median debt-to-GDP ratio was only 10 percentage points lower, the IMF said in a new report released Thursday
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  • Among the countries in the 100% club: Japan, Greece, Italy, Portugal, Ireland and the U.S. (U.S policymakers and credit-rating firms tend to put the U.S. debt-to-GDP ratio at 73%, based on marketable securities held by the public. Gross debt — the $16 trillion figure we see most often — includes money the government owes itself, like for Social Security. But the IMF uses the gross debt figure here.)
bparksj28

Federal Reserve details new round of stress tests - Nov. 16, 2012 - 0 views

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shared by bparksj28 on 16 Nov 12 - No Cached
  • The Federal Reserve, preparing to embark on its latest round of so-called stress tests, released the details Friday of three economic scenarios it will use to judge the health of the U.S.'s largest lenders.
  • 5% decline in gross domestic product, an unemployment rate of 12% and a volatile stock market which loses half its value.
  • The stress tests are mandated by Dodd-Frank, the financial reform law written in the wake of the 2008 financial crisis that brought down Bear Stearns and Lehman Brothers.
  • ...2 more annotations...
  • Last year, the Fed's tests showed a majority of the nation's largest banks would be able to weather another deep recession.
  • Ally Financial, Citigroup (C, Fortune 500) and SunTrust (STI, Fortune 500) -- would likely need new capital from either investors or the government in the Fed's adverse economic scenario
  • bparksj28 on 16 Nov 12
     
    Dodd-Frank Act - stress test 2012
bparksj28

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
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  • 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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