Researchers from Federal Reserve Bank of Boston Report Findings in CDC and FDA (Stimulus Payments and the Pandemic: Evaluating Low-income Individuals’ Spending Behaviour): CDC and FDA

2026 JUL 10 (NewsRx) -- By a News Reporter-Staff News Editor at CDC & FDA Daily -- Research findings on CDC and FDA are discussed in a new report. According to news reporting from Boston, Massachusetts, by NewsRx journalists, research stated, “This paper evaluates the marginal propensity to consume out of the 2020 CARES Act stimulus payments using high-frequency, transaction-level data for a sample of low-income prepaid debit cardholders.”

The news correspondents obtained a quote from the research from the Federal Reserve Bank of Boston, “It finds that the spending response to these payments is similar on impact to the response to a temporary change in regular income, and only somewhat smaller cumulatively (65 cents vs. 75 cents, respectively, per dollar).”

According to the news reporters, the research concluded: “The stimulus spending response is stronger, however, among cardholders with particularly low 2019 income-illustrating the beneficial impact of fiscal support during the COVID-19 pandemic for a segment of the population likely in particular need of assistance.”

This research has been peer-reviewed.

For more information on this research see: Stimulus Payments and the Pandemic: Evaluating Low-income Individuals’ Spending Behaviour. Oxford Bulletin of Economics and Statistics, 2026. Oxford Bulletin of Economics and Statistics can be contacted at: Wiley, 111 River St, Hoboken 07030-5774, NJ, USA. (Wiley-Blackwell - http://www.wiley.com/; Oxford Bulletin of Economics and Statistics - http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1468-0084)

Our news journalists report that additional information may be obtained by contacting Daniel Cooper, Federal Reserve Bank of Boston, Boston, MA 02210, United States.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1111/obes.70103. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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