The Federal Reserve continued to dial back its monthly bond purchases. Corporate earnings reports haven’t been all that great, and so-called emerging markets appear to be hibernating. Meanwhile, the recession continues in Europe.
Each trend has contributed to stock market stumbles in the first month of 2014. The record highs are no more.
The frustrating economic developments should cause Congress to rethink its move to cut any funding from the food stamp program in the pending farm bill. The bill would cut about $800 million annually from the $80 billion-a-year program, or about 1 percent, The Associated Press reports.
The money that would go to low-income families would get spent immediately on food, aiding people and farmers and have a multiplying effect on the economy. If the money gets pulled, a lot of people will be hurt.