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What do people do with stimulus checks? Yes, buy stuff — but also pay down debt

Jul 3, 2023
A recent study from the Federal Reserve Bank of New York shows that people often use government stimulus money to pay off debt — especially if they have a lot of it.
"Paying down your debt actually increases your future consumption, and that gives you a higher lifetime satisfaction," said the New York Fed's  Gizem Koşar.
Marvin Recinos/AFP via Getty Images

Federal Reserve points to risks in the current economy

May 7, 2021
Soaring asset prices, as in the stock market, and risky bets by financial firms could be vulnerabilities.
The lofty levels of stock prices are among the risks to financial stability the Fed is monitoring.
Johannes Eisele/AFP via Getty Images