Wall Street analyst sees fourth stimulus check unlikely

The analyst explained that the government’s priorities are to guarantee the remodeling of the strategic infrastructure, as well as to guarantee the massive creation of jobs, so the fourth check can wait

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After the third stimulus check was released last March, many Americans and some Democratic lawmakers began publicly calling for a fourth check to be authorized. Even a large number of citizens, more than two million, made a request on the Change org portal with the in order to pressure federal authorities to make this possible .

But Joe Biden’s presidential agenda is not, for now, to authorize another check, the priority is to get the law that gives life to the Infrastructure Plan which includes the American Jobs Plan and the American Families Plan , which focus the government’s efforts to trigger the creation of well-paying jobs, in the case of the first, and in the case of the second, support those most in need.

Even Wall Street financial analysts such as Raymond James told CNBC that see it unlikely at this time that it will be light green for the Biden administration to approve a fourth stimulus check. According to James, the priority is to remodel roads, schools and airports, invest in projects such as the construction of affordable housing, via the Infrastructure Plan.

According to the Wall expert Street betting on the renovation of the country’s infrastructure can bring enormous benefits, especially in relation to job creation, an issue that is a priority for the federal government, especially after the negative effects of the pandemic .

According to the expert, the efforts of the president and the Democratic congressmen will be strictly focused not only on the approval of the plan, but also on guaranteeing its financing, which will be possible with the increase in the corporate tax rate of 21% to the 28%. Situation that the do not see with good eyes, who, due to their positions, would not approve a fourth check .

Last week, it became known that the economy grew at a rate of 6.4% in the first quarter of this year. Despite this, unemployment remains high, representing 6.1% in April, with almost 10 millions out of work. In contrast, decreased applications for unemployment assistance, according to the Department of Labor they reached their lowest level since the pandemic began .

Despite this downward trend in applications for unemployment assistance, the government Seeks that the millions of Americans who are not in productive life return to working life as soon as possible , that is why the president’s agenda, at this time, is focused on carrying out the Infrastructure Plan .

In contrast to the federal government’s agenda, a recent survey by Harvard University suggests that many families across the country feel they need more help to be able to survive the next few months, as they feel that the economic recovery has not impacted them favorably.

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