United States | The stimulus check saved rather than spent

United States | The stimulus check saved rather than spent
United States | The stimulus check saved rather than spent

(Washington) The majority of American households have planned to put aside the money paid by the government as part of the stimulus package adopted in March, rather than spending it, according to a study by the New York Fed released Wednesday.

Posted on April 7, 2021 at 9:23 a.m.

France Media Agency

This study shows that 41.6% of U.S. households planned to save the money received, more than when they paid the first two checks in spring 2020 and January 2021.

Conversely, barely a quarter (24.7%) plan to spend it, less than in previous payments.

And a third thinks they are using this money to pay off unpaid bills and other debts, which is essentially the same, note the economists of the New York branch of the American Central Bank, in this national study.

This is the third time that U.S. households have received a direct check since the pandemic hit the U.S. economy in March 2020.

If nearly a third of beneficiaries (29.2%) had, a year ago, used the money to consume, they were only 25.5% in January, and are now 24.7%.

On the other hand, they were only 36.4% to want to put these pennies in the piggy bank a year ago, a share which increased to 37.1% in January, then 41.6% today.

After payments of $ 1,200 per adult and $ 500 per child in the spring of 2020, then $ 600 per person in January, the latest stimulus package, wanted by President Joe Biden and adopted in March, included checks for $ 1,400 per person. person, adult or child, under conditions of means.

More than 156 million payments were made for this third round of checks, for a total amount of $ 372 billion, the US Treasury said on Wednesday in a separate statement.

These payments should stimulate the US economy, and allow it to recover from this unprecedented crisis, at a time when the deployment of vaccines should allow activity to gradually resume. California should therefore reopen fully on June 15.

Joe Biden announced on Tuesday that starting April 19, all American adults would be eligible for the vaccination, ten days ahead of his goals.

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