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How Record Fiscal Stimulus Has Boosted the U.S. Economy

Despite stubbornly high unemployment, we have reason to believe fiscal stimulus has helped household finances hold up across all income levels.

The U.S. economic recovery paused at the end of 2020, as a third wave of the coronavirus pandemic caused a retreat from the return to normal activity. But we’ve argued that the U.S. economy will be ready for liftoff following the arrival of herd immunity with mass vaccination in mid-2021. A key reason for this is that record U.S. fiscal stimulus has put households and firms in good shape for the recovery.

2020 Brought Record U.S. Fiscal Stimulus (and More Is Coming)