“What people tend to do with the checks is they don’t spend which would increase inflation, they tend to save them which has no effect,” said Ryan Young, a senior fellow at the Competitive Enterprise Institute.
The latest rounds of stimulus checks may offer little financial relief for families being pinched by inflation, but they could offer some peace of mind, especially if the money is put toward savings with an economy that could teeter into a recession next year.
“That’s not nothing, if a family needs help that that will help cover the rent or something. But it’s not going to actually tamper down inflation or reduce price increases,” Young said.
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