Bitcoin jumped above $55,000, putting its market value over $1 trillion. Just two years ago, a single bitcoin fetched $3,600.
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After a tumultuous 2020, the IRS will open tax filing season on Friday, February 12th, a few weeks later than years in the past. The deadline to file and pay any tax owed reverts to April 15th, after last year’s COVID-19 related extension.
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Nearly 25 years ago, then Federal Reserve Chairman Alan Greenspan asked, “How do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions?” Given the recent volatile action of GameStop stock, those two words seem to be back in vogue, prompting me to wonder: Is irrational exuberance back?
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After President Biden signed executive orders addressing the pandemic itself and its financial fallout, it hopes to turn to other ways to boost the economy and help Americans.
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President Biden outlined what he hopes will be the first half of an economic stimulus plan. The Biden plan attempts to brighten the dim outlook for the economy in the coming months, or at least until a large portion of Americans are vaccinated.
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As perverse as it may seem, markets can indeed rise amid a sobering week for the nation.
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As we attempt to put the dumpster fire of the year known as 2020 in the rearview mirror, it’s time for the annual ritual of making, and more importantly, keeping resolutions.
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Nearly nine months after the $2.2 trillion CARES Act became law, the lame duck Congress is poised to pass an additional $900 billion relief bill before adjourning for its winter break.
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The pandemic economy itself has been both gray and yellow, and that will certainly be the case until the spring of 2021.
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