Inflation rates reached 8.6% as of May 2022, according to data from the U.S. Bureau of Labor Statistics. Stimulus Check is here to stay. This indicates that the cost of basic necessities, as well as items like electricity and healthcare, climbed at a rate that hasn’t been seen in the past 40 years throughout the course of a 12-month period beginning in May 2021 and ending earlier this year. Stimulus Check brings relief to households.
Stimulus Check Making Life Easier For The People
In addition to paying more than ever to fuel our cars and stock our pantries with food and supplies, many of us are still struggling financially as a result of the pandemic.
This coincides with the appearance of an impending bear market and the 20% decline in asset values experienced by many investors and savers for retirement.
Some government officials, incredulously, believe that simply adding more money will solve the inflation problem. In reality, a number of states are providing their citizens with “inflation relief,” whether it takes the shape of an inflation stimulus check or a tax relief rebate.
Examples of states embracing (or attempting to embrace) this concept include California, Colorado, Delaware, Georgia, Hawaii, Idaho, Indiana, Kansas, Kentucky, Maine, New Mexico, and Virginia. Keep in mind that the concept is still valid.
Tim Rosenberger, a Stanford JD/MBA and Hoover Institution Rising Fellow, claims that there is a particular kind of risk associated with the timing of these inflation stimulus checks, particularly the fact that they come immediately after other pandemic stimulus measures. Specifically, “families and individuals may delay addressing challenging economic realities, instead using these checks to cover essential requirements.”
In other words, this could start a pattern where people wait for stimulus payments to buy food and utilities rather than using the money to pay off debt or accumulate emergency cash. These families may experience sudden financial challenges, according to Rosenberger, if additional stimulus measures are not taken and a massive recession arises.
