When will the job markets get a shot in the arm? Officials at the Federal Reserve are offering predictions for 2021, as Howard Schneider reports for Reuters. The markets aren’t reacting to the recent bad news. What should investors do? Mallika Mitra of Money explains how to protect your portfolio in these turbulent times. There are steep penalties coming for those who forget their RMD this year. Cheryl Winokur Munk covers the story for Barron’s. (no subscription required).

Jabs Equal Jobs? Fed Sees Possible Economic Boom If Vaccine Gets On Track — Federal Reserve officials say the transition to a new administration on Jan. 20 and a likely accelerating vaccine rollout have left them optimistic. “We have a trillion (dollars) in excess savings. We have checks coming in the mailbox. There will be enough demand” from consumers to keep the recovery on track, Fed Vice Chair Richard Clarida said last week in forecasting an “impressive” 2021. Read more…

Why Doesn’t the Stock Market Care About All the Bad News? — From the pandemic to increased racial tensions and widespread job loss, investors seemed mostly unfazed. Even last week, as a mob of Trump supporters violently stormed the Capitol and — once again — the market didn’t flinch. Why is it digesting all this bad news so well? And will it continue to do so in the future? Read more…

The Return Of RMDs And Other Retirement Considerations You Should Know For 2021 — The Secure Act, passed in late 2019, boosted the age at which people must take Required Minimum Distributions to 72 from 70½. It was suspended in 2020 due to COVID. But the exemption hasn’t been extended, meaning people who are 72 or older in 2021 must take their RMDs by year-end or face a steep penalty. Read more…

 

John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller

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