Washington Post economic reporter Jeff Stein said Thursday that the recently passed American Rescue Plan’s coronavirus stimulus checks help open up the potential for a “New Deal-style” economic boom.
Stein told Hill.TV’s “Rising” that the passage of the COVID-19 relief package has led to “the rosiest moment in over a year,” adding that he thinks “we’re looking at turning a corner after such a dark winter.”
He said that increased COVID-19 vaccinations in addition to government stimulus checks, unemployment benefits and state aid are contributing to “hope” about the future.
“All of it is fueling this expectation,” Stein said. “Goldman Sachs is now predicting 8 percent growth at the end of this year, which would be the fastest in over 60 years. This is really the potential for a New Deal-style boom.”
“Obviously we’ve had tons of economic problems and financial insecurity before the pandemic as well, so getting back to that point for a lot of people won’t be enough,” he added. “It’s important to keep that in mind.”
“But if you’re Joe Biden, you’re feeling a lot better about this than you were in December,” Stein said.
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