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The government’s $5 trillion stimulus gamble mostly paid off — but missed poorer Americans along the way

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The government’s bid to pad against the coronavirus recession was mostly successful, but there are lessons to learn from some key shortcomings, researchers at the Federal Reserve Bank of Minneapolis said.

Congress authorized roughly $5 trillion in spending on various economic relief measures since the pandemic began. Households received support through direct payments, a child tax credit, and expanded unemployment benefits, while businesses got a helping hand from the Payroll Protection Program and near-zero interest rates.

Economists largely agree that the various stimulus bills accelerated the recovery, but two economists found a handful of ways the details ⇒

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