Congress has yet to pass a second round of stimulus checks, but we already know how the potential new payments will be funded.
The CARES Act in March authorized about $300 billion in stimulus checks to go directly to Americans' bank accounts.
The payments process involves an interesting way to borrow and figuratively print money, according to Sahil Bloom, a financial educator and vice president at Altamont Capital Partners.
Bloom said that the government can create money without actually printing physical currency. "We live in a digital age. So really money is just numbers on a screen," he said.
The undertaking involves three key players: Congress, the Department of the Treasury and the Federal Reserve. Check out this video to see who actually "clicks the button" and to learn how the process can backfire.
More from Invest in You:
'Predictably Irrational' author says this is what investors should be doing during the pandemic
Coronavirus forced this couple into a 27-day quarantine amid their honeymoon cruise
How to prepare for a family member with COVID-19
Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.
"payment" - Google News
August 22, 2020 at 01:02AM
https://ift.tt/3aLV9MQ
Here's who is paying the nearly $300 billion for your stimulus checks - CNBC
"payment" - Google News
https://ift.tt/3bV4HFe
https://ift.tt/2VYfp89
Bagikan Berita Ini
0 Response to "Here's who is paying the nearly $300 billion for your stimulus checks - CNBC"
Post a Comment