During the COVID-19 pandemic, stimulus cheques that were issued offered crucial assistance. When the economy was down, many were still able to pay their bills and rent thanks to the money placed into their bank accounts. Three payments were made in all, and several Americans have been patiently waiting for a fourth one for months, especially while rising prices are making it difficult for them to make ends meet. Since Congress has so far been inactive, individuals who are still hoping for payment in 2023 should monitor these three figures to see whether or not a 4th stimulus check will be issued this fiscal year.
Approval Of Another Stimulus Check
Last year, as a result of rising prices brought on by inflation, many Americans struggled to pay for necessities. Although there are some signs that prices aren’t rising as quickly at the beginning of the year, the Federal Reserve stressed that inflation is still very much alive and well. The Federal Reserve increased interest rates on Wednesday, February 1, for the eighth time since March, but they did so with a warning that “ongoing hikes in the (rate of interest) target range shall be appropriate.” Americans may experience greater financial strain if prices continue to rise, and Congress may find itself under pressure to approve another stimulus check if this trend continues.
Additional Stimulus Aid To Individuals
Although the number of jobless Americans has been falling, there are some worries that this trend will reverse and more businesses could start making layoffs, especially because digital corporations have recently fired millions of workers. If unemployment rises too high, Congress might intervene and offer additional stimulus aid to unemployed individuals. For instance, during the COVID-19 pandemic, Congress increased the size of unemployment benefits accessible to eligible workers and broadened benefit eligibility reports Fool.
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