March 10, 2021
JUST FEATHERING OUR NESTS:
The stimulus money isn't going to be spent, Bank of America says, so here are the investment moves to make (Steve Goldstein, 3/10/21, MarketWatch)
The big talk not just in markets but in politics is whether the new round of stimulus will overheat the economy.Bank of America's research investment committee say it won't, and brings some new data to the table. First, it cited data from the Census Bureau showing that of the households who received a $600 stimulus check in the first half of February, 73% saved or paid down debt. Consumer credit also unexpectedly fell in January.Bank of America also surveyed more than 3,000 people to ask how they would spend the new stimulus check. Even in the lowest-income category, 53% say they plan to either save, pay off debts or invest.
Posted by Orrin Judd at March 10, 2021 12:00 AM