Americans will spend less than 25% of Biden's aid on consumption
Direct payments to Americans in the amount of $ 1,400 per person, already approved by the Joe Biden administration, will go predominantly not to consumption, Bloomberg writes , citing a study by the Federal Reserve Bank of New York. Households in the study received an average of $3,162 in direct payments. Families will spend 13% of this money on essentials, 8% on durable goods. In total, 24.7% of aid will go to consumption.