Amid rising inflation, unemployment and economic uncertainties, discussions have once again intensified in the US about the fourth stimulus check of $1,400. The three previous stimulus payments had brought relief to millions of Americans and also played an important role in stabilising the country’s economy. Although there has been no official announcement about the fourth check yet, the reasons behind it make it necessary.
$1,400 Stimulus Check: Why is the fourth check needed?
1. Impact of rising inflation
Inflation in the year 2024 has remained consistently between 4% and 5%, which is much higher than the Federal Reserve’s target of 2%. Essential expenses like food items, rent, gas and transportation are becoming increasingly expensive, which has badly affected the budget of lower- and middle-class families. In such a situation, a stimulus check of $1,400 can act as a temporary relief for these families.
2. Persistent unemployment crisis
Although the unemployment rate has come down somewhat now compared to the peak of the pandemic, it still remains around 5%. Sectors like hospitality, retail and entertainment still have a huge job shortage. Being unemployed for a long time is putting many families in financial crisis, and their savings have been exhausted. In such a situation, the stimulus cheque can help them meet basic needs.
3. Political pressure and public support
The previous stimulus cheques have received support from both political parties, and this is why the political environment seems favourable for the fourth cheque as well. Some MPs have also presented proposals for new checks. Also, there is a huge demand for it among the common citizens. Both public demand and political will together are making this issue more serious.
4. Pressure from the public
Through social media and grassroots campaigns, millions of people have demanded the government issue a fourth stimulus check. Millions of signatures have been collected on petitions, which are working to put pressure on the government. These efforts show that a large number of American citizens are still struggling with the economic crisis.
5. Federal Reserve’s interest rate policies
The Federal Reserve has tried to boost economic activity by keeping interest rates low. This has made borrowing cheaper, but it does not provide immediate relief to families who are struggling to meet their daily needs. In such a situation, the fourth stimulus check will support these monetary policies as supplementary relief.
Broad benefits of the fourth stimulus check
Economic stability
The fourth cheque will boost consumer spending, which will increase demand, activate businesses and increase employment opportunities. This will strengthen the country’s economy and reduce the risk of recession.
Social impact
This cheque will not only provide economic relief but will also reduce mental stress. When families feel that the government is with them, their confidence will increase and their lives will be a little easier.
Conclusion
The demand for the fourth $1,400 stimulus check is not just a financial issue, but it is also important from a social and political point of view. This cheque can be a new hope for the American people struggling with inflation, unemployment and uncertainties. Now it remains to be seen how the government takes this issue forward and whether the fourth stimulus check is actually announced or not. If you find this information useful, then definitely share it with others and share your thoughts in the comments.
FAQs
Q.1 Has the government made any announcement regarding the fourth stimulus check?
A. No, at present there has been no official announcement from the government or the IRS regarding the fourth check of $1,400.
Q.2 If the cheque is passed, who will get the benefit?
A. Like previous stimulus rounds, this cheque can also be given to lower- and middle-class people based on income.
Q.3 By when can this cheque be received?
A. There is no fixed date. It will depend on economic conditions and political decisions.
Q.4 How will this cheque provide relief from inflation?
A. Rising prices have increased the economic pressure on the common citizens. This cheque can be helpful in reducing those expenses to some extent.
Q.5 Is unemployment still such a big problem that a cheque should be given?
A. Yes, there is still huge unemployment in some areas, and long-term unemployed people are in dire need of this relief.
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