RICHMOND, Va. (WTVR) – August was the worst month of the year for the stock market. The Dow was down 4 percent as investors took profits and worried about the Federal Reserve’s imminent wind-down of its bond purchases.
These monthly purchases put money into the system, making it cheap, while keeping interest rates low and investors quite happy. But the Fed has always said it would slow down its purchases once the economy improved. So it’s good overall news, just not what Wall St. money managers want.
Tuesday evening I sat down with Sandy Wiggins of the Actuarial Consulting Group to discuss the stock market’s recent performance with some unsettling issues still to be resolved this month. Listen to what Sandy has to say and consider these issues as you think about protecting your retirement savings.
So we'll find out more this month about when that will happen. In addition, the strong possibility of US military action in Syria has the oil market on edge. Add uncertainty about the debt ceiling/budget debate and the appointment of the next Fed Chairman, and you have some big issues that investors want answers to.