GO in the Know: Disaster SNAP Approved, Recession Warning & Top Financial News for Oct. 11, 2022

GO in the Know
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I hope you are all having a decent Tuesday. Here are the top financial stories of the day.

The Big Lead: Florida Approves Disaster Food Stamps for Hurricane Ian Victims

Florida’s Department of Children and Families announced the state’s application for Disaster Supplemental Nutrition Assistance Program (D-SNAP) has been approved by the U.S. Department of Agriculture. D-SNAP will provide food assistance to low-income households affected by Hurricane Ian. Read the full story here

Economy Spotlight: ‘2023 Will Feel Like a Recession,’ IMF Warns in New Global Growth Forecast

A new report released Tuesday, Oct. 11, by the International Monetary Fund warns that the financial outlook for the coming year is becoming more and more concerning to experts with “the worst yet to come.” As the IMF projects, even if we are not officially in a recession in 2023, it will still feel like one. Read the full story here

That’s Interesting: Why Online Holiday Sales Are Set To Be Weakest on Record

Retailers could face a less-than-merry holiday shopping season as many consumers look to put on the brakes after blowing much of their holiday budgets on deeply discounted items in recent weeks. Read the full story here

Bonus: How To Avoid Taking Early Withdrawals on Your 401(k)s and IRA

With life being so unpredictable, you never know when an event will prompt the need for an early withdrawal of funds from an account earmarked for retirement. However, unless circumstances make it absolutely unavoidable, there are ways to access your 401(k) or individual retirement account without triggering the standard 10% penalty. Read the full story here

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