Most of the world is now hunkered down. We’re socially distancing ourselves from each other in the tiny clusters of our nuclear families for an unknown period. The stock market has plunged at a record speed, wiping out gains made since December 2018, and with fears of more selling to come. But there is light at the end of the tunnel as efforts are underway on various fronts, healthcare therapies and Government financial stimulus, that may show us the path forward. And finding that path is the… View More
Although the final text of the stimulus package is not complete yet, there is a senate-produced summary of the legislative compromise (follow link below). It walks though the stimulus package section by section in an easy to read fashion. When the final text becomes available, we will send it out. Sincerely, Fortem Financialwww.fortemfin.com(760) 206-8500 Stimulus Package Senate Summary of Legislative Compromise Read Story … View More
Good morning. The federal government and the Federal Reserve are using their massive balance sheets to fight any significant surge in unemployment stemming from the coronavirus. Policymakers are viewing the fight against the coronavirus as a wartime-like event and they are putting wartime resources behind the effort. Last night, negotiators reached agreement on a roughly $1.8 trillion fiscal stimulus, with most of the tax and spending changes front loaded to cushion the blow from a temporary de… View More
An agreement on the economic stimulus package is a lot closer this morning. Senator Schumer and Treasury Secretary Mnuchin resolved most of the large issues last night. A deal did not materialize yesterday, but negotiators knew the clock was ticking and worked late into the night to get the details in order for a potential deal announcement today. Last night, Mnuchin agreed to more oversight of the corporate loan facility and Schumer won more money for hospitals and $25bn of direct aid for the … View More
We interrupt your normal viewing pleasure to bring you a special report: Due to fears about the Coronavirus – more specifically, the forceful government measures designed to halt its spread, the US is on the front edge of the sharpest decline in economic activity since the early 20th century. The US economy was on track to grow at around a 3.0% annualized rate in the first quarter before fears and response measures escalated. Don't just take our word for it, the GDP model used by the Federal … View More