RECORDED PORT Webinar - Major Economic Headlines from 1Q 2020

  • 04 Jun 2020
  • 07 Jul 2020
  • Webinar

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Webinar:

Major Economic Headlines from 1Q 2020


  • Fed policy:  Details on how the Federal Reserve significantly expanded their monetary policy toolkit to combat COVID-19
  • Fiscal policy:  Congress passed the $2 trillion CARES Act which made major changes to unemployment benefits and provided certain individuals one-time cash payments
  • Volatility:  The Dow Jones Industrial Average dropped into a bear market in only 20 days, the swiftest tumble in stock market history
  • Unemployment:  Roughly 14% of the American workforce filed for unemployment benefits in the tree weeks ending April 4
  • Oil Price War:  Saudi Arabian oil giant Aramco slashed prices in early March, initiating a price war with Russia after the two parties failed to reach an agreement on reduced output in the wake of COVID-19
  • Global Economic Summary - Impacts to Europe, Japan, China, Brazil, and India

·       CARES Act Summary

  • Details on the provisions aimed at providing retirement plan-related relief to Americans (as permitted by the plan)
  •   Legal obligations regarding monitoring and investments
  •  Best practices regarding plan investments, monitoring of participant actions, communication with recordkeeper and participants, and plan provision considerations


SPEAKER:

Dan Quirk, CFA, CFP®, Senior Investment Advisor, SageView


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