During periods of economic sluggishness and high unemployment, lawmakers have used stimulus checks in the past. But that’s not where we are right now.
Consumers in the United States have been fighting inflation for well over a year. In order to keep up with their bills, many people have had to take withdrawals from their savings and rack up debt on credit cards.
The good news is that the annual rate of inflation has reduced to 6%, which is still high but lower than the 6.4% annual rate recorded in January. Yet, overall living costs remain excessive, and consumers continue to struggle to afford their basic necessities.