Stimulus check 2023: Three key numbers that will decide if there is another direct payment
Asher Notheis
Video Embed
It has been almost two years since the last stimulus payment, and since then, there has been much discussion over whether another one will be issued in the near future.
Since April 2020, a total of three stimulus payments have been issued to the public in response to the coronavirus pandemic. The most recent one was made in March 2021.
STIMULUS UPDATE: HERE ARE THE FINAL FOUR STATES SENDING OUT DIRECT PAYMENTS WORTH UP TO $1,500
Some topics of interest to the United States could provide some indication of whether residents will receive another payment soon, according to the Motley Fool.
Inflation
Basic needs and everyday items, such as gasoline and eggs, have greatly increased in price in the last few years. While some items, such as gas, are no longer at an all-time high, the Federal Reserve has still warned that inflation is not over.
The Fed raised interest rates on Feb. 1 for the eighth time since March 2022. The Fed warned that “increases in the (interest rate) target range will be appropriate.”
In the case in which inflation continues to rise, it could draw the attention of Congress to take action.
Unemployment
Unemployment levels have decreased recently, though it is possible for this decreased level to reverse course if more companies enact layoffs. Many large companies, including Microsoft, Meta, Amazon, and Google, have laid off thousands of employees over the past few months.
Similar to inflation, if the situation of unemployment worsens, Congress could take action to attempt to minimize the impact that mass unemployment could cause.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
GDP
The Bureau of Economic Analysis provides reports four times a year, once each quarter, regarding GDP. When there are two quarters back to back that report negative growth in GDP, it should typically be seen as a sign of a recession.
In the past, stimulus checks were used to help the economy when it was in a recession, meaning another stimulus payment could be possible if the nation fell into recession. In October 2022, economic modeling showed that there was near certainty the economy will enter a recession sometime in 2023.