Stimulus checks boost confidence, especially at lower end — In the “happy headlines for the White House” department, the $1,400 checks and direct deposits now showing up in mailboxes and bank accounts across America are driving up consumer confidence once again.
Per new data from Morning Consult out this morning: “U.S. consumer confidence increased more rapidly following the signing of the American Rescue Plan than it did following the signing of the two prior coronavirus stimulus bills.
“Over the past five days, confidence among low-and middle-income consumers increased more sharply than confidence among high-income consumers, signaling that the third stimulus bill may help counterbalance the K-shaped recovery in confidence and spending.” Continue reading.