Check your Pandemic Stimulus Controls: The Good, the Bad and the TBD

The onset of the coronavirus pandemic was fast and furious. The first recorded case outside of China was reported in mid-January 2020 

With many workers staying at home and most businesses limited to online operations at best, the U.S. Congress passed the first of many stimulus packages 

Ultimately, more than $5 trillion in stimulus funds flooded the American economy, including $817 billion in stimulus checks paid directly 

While the general consensus is that a stimulus package was appropriate at the time, there have also been some negative ramifications of its size and scope 

The best effect of the pandemic stimulus checks is that they kept the U.S. economy out of a deep recession. 

The unemployment rate spiked to 14.8% from January 2020 to March, the highest levels since recording began in 1948 

In a classic inflationary cycle, prices spike due to too much money chasing too few goods