Top economists call for recurring stimulus checks as COVID-19 pandemic continues

Coronavirus

(WNCN) — A letter from 156 top economists across the country is calling on policymakers to make the next round of stimulus payments recurring until the economy recovers from the coronavirus pandemic.

The letter, published in the Economic Security Project cites that the pandemic has created “widespread uncertainty which may call for a multifaceted response​ ​that includes automatic, ongoing programs and policies including more direct cash payments to families”.

In addition, the group is calling for extended and enhanced unemployment benefits; substantial aid to state and local governments; stronger SNAP benefits; robust child care funding and more. 

“Direct cash payments are an essential tool that will boost economic security, drive consumer spending, hasten the recovery, and promote certainty at all levels of government and the economy – for as long as necessary,” the letter said.

The economists come from various universities across the country. Notable figures who signed the letter are Claudia Sahm, a former Federal Reserve economist, and Jason Furman, a former senior economic adviser to President Barack Obama. Two economists in the U.K. and one in India were also a part of the letter.

Read the entire letter here.

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