In one of the first studies of the effects of $1,400 stimulus payments issued under the American Rescue Plan, “They Worked: The effects of $1,400 stimulus checks on families and the economy,” JFI Senior Fellow Claudia Sahm draws on new survey data demonstrating how families made use of the third round of cash relief.
“This evidence-based brief draws on newly available data from the Surveys of Consumers at the University of Michigan, known as the “Michigan Survey”, to assess the effect of the final round of stimulus checks. I find that most families needed the checks and many—even those with higher incomes—spent them quickly, helping reignite the economic recovery after it stalled in the winter.”
From the series:
From Idea to Reality: Getting to Guaranteed Income