The Invisible Hand: Personal Income, Consumer Spending rise significantly with the help of federal aid

The Invisible Hand: Personal Income, Consumer Spending rise significantly with the help of federal aid. “Personal income surged in January as Americans received $600 stimulus checks, leading to new optimism about the nation’s recovery from the pandemic. The monthly report issued by the Bureau of Economic Analysis for January noted a personal income increase of 10%, the second largest on record, was aided by federal stimulus checks and a $300 a week boost to unemployment benefits. Consumer spending had an increase of 2.4%, while the savings rate continued to rise at an extraordinary rate topping 20.5% for the month. ”

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