from Confounded Interest
There is a great fear about inflation in the US. And why it remains so low DESPITE the trillions in stimulus spending by the Biden Administration.
According to a survey by The New York Fed, consumers are expected to spend less than 25% of the latest stimulus checks. The checks are expected to be used to pay down debt and add to savings.
(Bloomberg) — U.S. consumers are socking away 42 cents of every dollar received from the third round of pandemic stimulus checks sent out in March, according to a new poll by the Federal Reserve Bank of New York.
Less than 25% of the funds are being spent and the remainder is being used to pay down debts, according to the New York Fed survey data, published Wednesday.