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Experts question the amount of stimulus money pumped into the economy

Inflation is creeping up as the economy wipes out COVID losses
Posted at 5:44 PM, Jun 24, 2021
and last updated 2021-06-24 17:54:28-04

TAMPA BAY — For millions of Americans, stimulus money eased the anxiety and uncertainty brought on by the pandemic. Brittany Zalinski says her family used the payout to get ahead of their monthly bills.

University of Michigan researcher Patrick Cooney says the package covered the basics and provided some peace of mind to those who needed it most.

Experts say those who did not get a check benefited from a recovering economy.

Nivedita Mukherji, Associate Dean of the School of Business at Oakland University, says there's no need to push more stimulus money into the economy. She and others have turned their attention to inflation.

Prices for consumer goods shot up 4.2 percent from April 2020 to April 2021. It was the fastest 12-month growth since 2008.

Mukherji expects prices to flatten later this year.

Meanwhile, Brittany Zalinski says she understands the concern the government dumped too much money into the economy, but for her family and others, the stimulus kept them afloat.

Stimulus money is still being pumped into the economy via local and state governments.

If you or someone you know needs financial or mental health assistance related to COVID-19, call 2-1-1 or click here. The helpline connects those in need to a variety of social services.