Stimulus Update: This Biden Tweet Highlights 3 Factors That Determine the Likelihood of a Fourth Check

This post may contain affiliate links which may compensate us based on your interaction. Please read the disclosures for more information.

Biden’s tweet is an important one if you’re hoping for more stimulus money. 

Recently, President Biden sent out an important tweet for those hoping for a fourth stimulus check. Biden’s tweet addressed three major economic indicators affecting American families.

The president’s tweet highlighted the good news about these three economic data points, indicating that positive changes provided “welcome breathing room for American families.” Since there have been some recent developments that give people more money in their bank accounts, the chances of a stimulus check have been reduced.

However, if things were to turn around on these key issues, a fourth stimulus payment could become more likely in the future.

Here are three key economic indicators the president is watching closely

In his tweet, President Biden addressed gas prices, inflation, and real wages. Specifically, the president said “Gas prices are down from last year’s peak; inflation for grocery prices came down again last month; and real wages are up over the last seven months.”

With gas prices lower, Americans are paying less to fill up their tanks. Inflation, on the other hand, refers to the rising prices of goods and services. Inflation had hit a 40-year high over the past year or so, and the fact that the price increases are slowing down is a major boon to people who were struggling to pay for the basics at the grocery store. And real wages refer to inflation-adjusted wages. When real wages go up, this means that your buying power goes up, not just the amount of money in your paycheck.

Since people are making more and are able to spend less on two big budget items — food and gas — many people will find making ends meet easier, as the president has pointed out. This is great news.

But, because things are getting better financially for many people, this further reduces the incentive for President Biden to push for another stimulus check. And, it reduces the likelihood that lawmakers on the federal level would be able to come to consensus on providing another direct payment — especially since there wasn’t even bipartisan support for the last one, which was authorized by Democrats on a party-line basis when the economy was in worse shape.

Will there be another stimulus check?

If the news continues to be positive on gas prices, inflation, and wage growth, a fourth stimulus payment is very unlikely. But, if gas prices and grocery prices start to rise again or real wages fall, it’s possible President Biden will once again make offering stimulus relief a financial priority.

The fact the president is specifically tweeting about these three issues means they are on his radar. Changes to the economic data in these areas would be a cause for concern that could prompt further action to help Americans cope with rising costs.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2024

If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR until 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee.

In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes.

Read our free review

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

 Read More