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,