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Economists Warn Of “Fiscal Fatigue” As US Faces Economic “Wasteland” Without Stimulus

A whole host of economists and former Federal Reserve heads have warned if Congress and the White House fail to agree on a new round of fiscal stimulus, then it would risk damaging the economic recovery, reported FT

As of mid-August, about 7 states, Colorado, Missouri, Utah, Arizona, Iowa, Louisiana, and New Mexico, have signed up for President Trump’s emergency FEMA funds to shell out $300 weekly stimulus checks for those receiving unemployment benefits under Trump’s Aug. 8 Executive Order. This is a far cry from the $600 per week millions of Americans were receiving in spring through July 31. 

A top concern ahead of the presidential election is the lapse in Trump stimulus checks, also known as direct transfer payments, accounted for at least a quarter of all personal income, artificially boosted most of the economy – without the second round of checks, the artificial boost is set to subside. 

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