![]() "I would say that this is definitely going to be less about direct income support-which the latest $1.9 trillion plan kind of gets you through this transition period where the economy's reopening-and more about, as Biden said, building back better," Ryan told Fortune. Other economists concurred with Zandi, including Brett Ryan of Deutsche Bank. "I wouldn’t consider these packages as fiscal stimulus, designed to support the economy in the short-term,” and therefore, “I don’t think there will be a fourth round of stimulus checks," he added. "These packages will be designed to address long-term economic problems such as infrastructure, climate change and the skewed income and wealth distribution," Mark Zandi, chief economist at Moody’s, recently told Fortune. The initial legislative proposal will focus on infrastructure investments while the second part will emphasize healthcare and childcare. The White House will debut the first part of Biden’s $3 trillion Build Back Better package later this week and the second part in late April. Instead, Biden and his administration have already started to pivot to longer-term agenda items, including climate change and infrastructure. With economic momentum at their backs, Democrats will likely feel less pressure to pass another round of direct payments to Americans. Shifting Away From Stimulus Checks And Towards Other Democratic Priorities However, a quicker recovery would likely take any wind out of a fourth stimulus check sail. ![]() Let’s be clear, this is terrific news and every American should be cheering for a full and speedy recovery. "So there are still too many Americans out of work, too many families hurting, and we still have a lot of work to do, but I can say to the American people help is here, and hope is on the way,” Biden added at his last press conference. 684,000 Americans filed new claims for state unemployment benefits in mid-March, which, as Forbes’ Sarah Hansen noted, is “down 97,000 from the prior week and the lowest level in more than a year.” "Just this morning, we learned that the number of people filing for weekly unemployment insurance fell by nearly 100,000 persons," Biden remarked. ![]() MORE FROM FORBES $1,400 Stimulus Checks Are Already Working As Credit, Debit Spending Surges 45%, BofA Says By Sarah Hansenīiden also pointed to renewed signs of optimism in the labor market. ![]()
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