Moving and Retirement
Federal Reserve Chair Jerome Powell Addresses Current Economic Issues: For Some, a Reversal of Economic Fortune
While the coronavirus economic shock appears to be the largest on record, the fiscal response has also been the fastest and largest response for any postwar downturn ... At the Fed, we will continue to use our tools to their fullest until the crisis has passed and the economic recovery is well under way. Recall that the Fed has lending powers, not spending powers. A loan from a Fed facility can provide a bridge across temporary interruptions to liquidity, and those loans will help many borrowers get through the current crisis. But the recovery may take some time to gather momentum, and the passage of time can turn liquidity problems into solvency problems. Additional fiscal support could be costly, but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery. This tradeoff is one for our elected representatives, who wield powers of taxation and spending. more »
Legislative Update May 4-8, 2020: Office to Enforce & Protect Against Child Sexual Exploitation; Paid Sick Leave and Required Paid Family and Medical Leave, Eating Disorder Prevention, Indigenous Women
Bills Introduced: A bill to prohibit the expenditure for an abortion of federal funds authorized or appropriated for preventing, preparing for, or responding to the COVID-19 pandemic; A bill to establish the Office to Enforce and Protect Against Child Sexual Exploitation, A bill to provide emergency funding for caseworkers and child protective services; A bill to allow 2020 recovery rebates with respect to qualifying children over the age of 16; A resolution recognizing the heritage, culture, and contributions of American Indian, Alaska Native, and Native Hawaiian women in the United States more »
Who Are Organizational Payees? Some Social Security Beneficiaries Rely on Organizations Like Non-profits or Nursing Homes to Help Them Manage Their Benefits.
Some Social Security beneficiaries rely on organizations like non-profits or nursing homes to help them manage their benefits. The Social Security Administration monitors these organizations to ensure benefits are not being misused. Yet SSA does not require background checks for key employees of such organizations as it does for relatives or friends that assist beneficiaries. In addition, SSA accounting forms make it difficult to track in detail how these funds are spent. We made 9 recommendations, including that SSA redesign its accounting forms and look into requiring background checks for employees at these organizations. Social Security beneficiaries may rely on non-profits or other organizations to manage their benefits. more »
Ferida Wolff's BackYard: Maple Seeds in Abundance; We Are Birds of a Feather: Is Our Tree of Life Starting to Weaken? It’s a Short Step From Tree-worry to People-worry
Ferida Wolff writes: Is our tree of life starting to weaken? We seemed strong until the corona virus began playing havoc with us. It is hard to see the bright side of things right now but I try to focus on the positives: a neighbor offering to shop for me, fellow walkers saying hello but carefully avoiding close contact, having a snack virtually with my grandchildren. Small things but they help to keep the positive in view. I’m looking forward to a season of healing, whenever that comes about.
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