Stimulus checks: 'A lot of people have to pay rent' with that $600, Valliere says
A fresh round of COVID-19 related stimulus checks arriving to mailboxes soon — smaller than the ones from the Coronavirus Aid, Relief, and Economic Security (CARES) Act doled out at the start of the pandemic — may do nothing more than plug the finances of struggling U.S. households as opposed to unleashing a consumer spending boom that sustainably digs the economy of its current ditch.
“I think a lot of people have to pay rent. A lot of people want to buy food. Yeah, sure there could be some purchases at department stores, but I think basic necessities are more crucial here,” AGF Investments Chief U.S. policy strategist Greg Valliere said on Yahoo Finance Live. “I think because of that we are looking at a very mediocre first quarter. The good news is the first quarter will not go into recession because of this bill.”
As part of a new $900 billion COVID-19 relief package inked this week by lawmakers, single people earning up to $75,000 will receive a check of $600. Married couples bringing in $150,000 will get a check of $1,200. Both amounts are half of what was paid out directly to folks in the CARES Act.
Unfortunately for many U.S. households, since the initial round of stimulus checks went out the economy has continued to tread water at best.
https://www.msn.com/en-us/money/personalfinance/stimulus-checks-a-lot-of-people-have-to-pay-rent-with-that-dollar600-valliere-says/ar-BB1c9cph?li=BBnb7Kz
Guess you could put that towards your rent. I don't think there's anything in my area you can rent for $600 a month.
= new reply since forum marked as read
