March 31, 2020
In late March 2020, Congress passed a $2 trillion stimulus package called the CARES Act - the Coronavirus Aid, Relief, and Economic Security Act1.
The primary features of the Act include boosts to unemployment insurance payouts as well as some changes to retirement accounts that should help ease the financial burdens currently faced by many Americans. (NOTE: Don’t assume that we’re in the clear because the government is pumping $2 trillion into the economy. If we were in the clear, the House wouldn’t be working on the next stimulus package, which they are. Assume more ups and downs in the stock market over the next few months, or longer.)