WASHINGTON JuJu Smith-Schuster Limited Jersey , May 22 (Xinhua) -- U.S. Federal Reserve is on track to raising its benchmark interest rate this year despite the weak performance in the first quarter.
"If the economy continues to improve as I expect, I think it will be appropriate at some point this year to take the initial step to raise the federal funds rate target and begin the process of normalizing monetary policy," said Fed Chair Janet Yellen at an event in Rhode Island on Friday.
She reiterated that the pace of normalization is likely to be gradual and it will be "several years" before the federal funds rate is back to its normal and longer run level.
The recently released Fed policy meeting minutes showed many Fed officials did not expect to raise interest rate in June as they believed the data available in June would not provide sufficient confirmation that the economic conditions warrant the liftoff.
Following the release of the minutes, the market widely sees September or even later as the most likely time for the rate increase. The Fed has kept its benchmark short-term interest rate near zero since December 2008.
In assessing the two criteria for raising rates, Yellen said despite the significant gains of the past couple of years, there is still slack in the labor market Jack Lambert Limited Jersey , such as some people being forced to leave job market due to lack of job opportunities.
As for inflation, the other criterion which has run below the Fed's 2-percent target for years, Yellen said, as the economy strengthens further and oil prices stabilize, she and other Fed officials believed that the consumer price inflation will move up to 2 percent. Meanwhile, other temporary factors also weighed on inflation recede Jerome Bettis Limited Jersey , she added.
She attributed the nearly flat growth in the first quarter to transitory factors, such as severe winter and labor disputes in west coast, but held a cautious view about the economic outlook.
Yellen said the economic growth would be moderate over the remainder of the year and beyond as headwinds facing the economy, including slow housing sector recovery, weak investment in energy sector, and slow global growth James Conner Limited Jersey , have not fully abated.
Most Fed officials expected the economy to grow about 2.5 percent per year over the next couple of years, Yellen said.
Many of us have life insurance, however, there are very few of us that are
prepared for the effects of becoming ill to the point that we cannot work. This
means that a serious illness could lead to losing homes, savings, and
lifestyle T. J. Watt
Limited Jersey , instead of worrying about recovery.
Studies
have shown that most Americans do not have the protection from costs that come
about when surviving a serious event. Due to these facts, Assurity Life
Insurance has deemed October to be “Critical Illness Insurance Awareness Month.”
Ken Smith, the Director of Health Products at Assurity Life explains, “For
most of the 20th century, when someone was diagnoses with cancer, or suffered a
heart attack or stroke Le'Veon
Bell Limited Jersey , that person died. They needed life insurance
for their family. With the advances in the early 21st century, more and more
people survive, but the financial consequences of survival can be devastating.
These people still need life insurance in the 21st century, but along with new
modern planning strategies, they also need critical illness coverage.” This new
push to educate the masses during the month of October is only part of a larger
effort by the industry to educate people about how they can be better prepared
for the financial implications of illnesses.
Illness Can (And Will) Affect
Your Health Financially
Some life-threatening conditions can change your life
in seconds: if you were diagnosed tomorrow with cancer, and the only specialist
lives across the country Antonio
Brown Limited Jersey , you would have to pay for travel, hotels,
and other necessities out-of-pocket. This is in addition to the hundreds of
thousands of dollars in medical bills that your insurance company may or may not
cover. If you can’t work, especially, it can be terrifying to realize that all
the bills and costs of treatment will add up.
Disability Isn’t the Way Out:
For some people, the above scenario is real. In the United States Terry
Bradshaw Steelers Jersey , half of all bankruptcies are directly
because of illness. Most people just assume that the disability coverage will
help them through this tough time- at least until they realize that their policy
takes up to three months to kick in; due to the high cost of medical care, three
months could be a million years- as the $10,000 may not even last through the
first few weeks.
Will Critical Illness be the Rescue?
Before you start
to panic, though, let us tell you about a South African surgeon; Dr. Marius
Barnard is famous for his part in the world’s first heart transplant. Dr.
Barnard felt disgust with how medical bills could cause his patients to be
pushed to debt and, as a result JuJu
Smith-Schuster Steelers Jersey , could affect their recovery. So,
he decided to do something to change it: critical illness insurance- a coverage
that pays out a full lump sum when you are diagnosed with a condition that is
outlined in your policy.
Spread the Word:
Though it is currently offered
in 54 countries and has gotten more popular in the recent years, most Americans
have no idea what critical illness insurance is. This is only one of the reasons
why Americans need a designated Critical Illness Awareness Month- as it gives a
larger push to educate consumers.
Over 75% of people over the age of 40 are
diagnosed with a critical illness at some point. If these individuals had an
extra twenty-to-one-hundred thousand dollars, then they might be able to make a
full, fast recovery without being worried about finances. Following a
devastating diagnosis, your critical illness policy can provide the extra money
that you need to close the gap. This is an under-appreciated safety net that is
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