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Most of the stimulus money wasn't handed to individuals, it was given to businesses and the financial sector.
by dv_dt 5y ago
Most of the stimulus money wasn't handed to individuals, it was given to businesses and the financial sector.
- adam_arthur 5y agoYou can see the impact on personal income to individuals here. Clearly a huge distortion to the upside. The PPP had its own set of problems and was widely abused. https://fred.stlouisfed.org/series/PI https://fred.stlouisfed.org/series/PI
- dv_dt 5y agoThere were also $6.3 trillion in MBS purchases, as well as other asset purchase programs. One might speculate that taking assets off the hands of financial institutions, gives them quite a bit of freedom to allocate that capital to new assets. https://www.richmondfed.org/publications/research/economic_brief/2020/eb_20-08 https://www.richmondfed.org/publications/research/economic_b...