Stimulus Check Update 12 Million to get Checks: Federal Reserve Meet

Stimulus Check Update 11–1–2020

Here’s your daily stimulus check, your second stimulus check, your executive action, order, memorandums, moratoriums, and stimulus package update for Sunday, November 1st, 2020.

With inflation still elusive and with questions surrounding our economic growth, the Federal Reserve faces a choice of whether to wait for conditions to unfold further, or act now to provide some extra help.

“The Federal Open Market Committee holds its policy meeting Nov. 4–5th.

Officials are expected to discuss the policy options open to them at this point, and with so much uncertainty surrounding the current situation, it wouldn’t be that big of a surprise to see them make some kind of move.

Aneta Markowska, a chief financial economist at Jefferies said, “A lot has changed in the past two weeks. Almost all the worries the flagged in September have materialized or are in the process of materializing. So they don’t have the luxury of time anymore.”

The Fed will be watching financial conditions closely in the coming days, and its meeting will conclude after a presidential election whose results could provide direction for how aggressive the fiscal stimulus might be.

Up next, it seems that Nancy Pelosi and Steven Mnuchin may not have been close to reaching a deal despite Pelosi’s repeated expressions of optimism about getting a deal.

Pelosi sent Mnuchin a letter listing a bunch of outstanding issues including state and local aid, school funding, child care money, tax credits for working families, unemployment insurance aid, and liability protections.

Despite all the issues left to negotiate, Pelosi continued to show optimism all this time.

In multiple recent media interviews and private meetings with House Democrats Pelosi has expressed optimism about getting a deal before the election — even while justifying her refusal to make a deal by insisting there was really no deal take.

It just plays into question what exactly they do agree on.

And finally, it’s been months since Congress constructed the IRS to send $1,200 stimulus checks to every citizen however 12 million people never received their checks.

There are many reasons why people may not have received them including complex programming, IRS missteps, and Treasury Department policy decisions that cut out large groups of people altogether.

But it is not too late, people have until Nov. 21 to claim the money or risk losing out on any second round of stimulus payments.

Even if you receive non-taxable income or do not make enough money to normally have to file a tax return, you are encouraged to apply through the IRS website.

Use the Non-Filers: Enter Payment Info Here tool directly through irs.gov.

The IRS Commissioner Chuck Rettig, said: “We took this step to provide more time for those who have not yet received a payment to register to get their money, including those in low-income and underserved communities.”

Signing up will also ensure that you receive the second stimulus whenever that arrives.

Sources:

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