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By Staff Reporters
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- Stock Markets: Down more than 2% with its back against the wall, the NASDAQ staged a huge comeback yesterday afternoon to close in the green and snap a 4-day losing streak.
- Pandemic: Moderna was the S&P 500’s top performer after its CEO said that a booster shot targeting Omicron would soon enter clinical trials. Pfizer also said its Omicron booster would be ready by March.
- Economy: A growing number of finance experts are taking the over when it comes to the number of interest rate hikes this year. Goldman Sachs now predicts the Fed will raise rates four times in 2022 (more than previously forecast) and JPMorgan CEO Jamie Dimon said he’d be surprised if it were only four hikes.
- IRS: Even though tax filing season is just around the corner (opening January 24th with an April 18th deadline), the typically joyful and charismatic IRS has a case of the blues. On Monday, the Treasury Department warned that the agency has had a rough year and taxpayers should expect delays as returns are processed. According to Treasury officials, budget cuts and pandemic-related staffing shortages have created a towering backlog at the agency, and a “frustrating season” is on the horizon. While the IRS typically enters filing season with about 1 million unaddressed returns, the number stood at around 8.6 million in mid-Nov. 2021.
- CITE: https://www.r2library.com/Resource/Title/0826102549
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Filed under: Alerts Sign-Up, Breaking News, Glossary Terms, Health Economics, Healthcare Finance, LifeStyle, Taxation | Tagged: Dimon, IRS, JP Morgan, Moderna, NASDAQ, omicron, pandemic, S&P, tax, Treasury |
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