Economics
Americans’ Saved-Up Stimulus Checks Could Bring Economic Boost
More than one-third of likely recipients plan to stash money for later, according to a survey commissioned by Bloomberg.
Illustration: Maria Chimishkyan for Bloomberg Businessweek
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President Joe Biden has promised to “act fast” in delivering another dose of pandemic relief, including $1,400 checks for millions of Americans. That doesn’t mean all the recipients will be in a hurry to spend the money.
By comparison with the first round of stimulus checks that went out last spring, the payments from Biden’s $1.9 trillion aid bill are much more likely to be saved rather than spent, according to a new survey by Morning Consult commissioned by Bloomberg News.