Will Trump Send Another Stimulus Check in 2024? Experts Weigh In

During his first term, President Donald Trump approved two rounds of stimulus checks, providing much-needed financial relief to millions of Americans during the pandemic. As his second term approaches, rumors are circulating on social media about the possibility of another stimulus check. However, experts are clear: the likelihood of this happening is slim.

The Economic Landscape: Why Another Stimulus Check is Unlikely

When the COVID-19 pandemic hit, the U.S. economy was plunged into chaos. Unemployment soared to nearly 15%, and millions struggled to make ends meet. In response, Trump signed bills that sent out stimulus checks to eligible households. Yet, the economic landscape today is vastly different. While many Americans express concern over inflation, economists argue that the economy is currently strong, with GDP growth, a low jobless rate of 4.1%, and inflation inching toward the Federal Reserve’s target of 2%.

Jacob Channel, senior economist at LendingTree, explains that stimulus checks are typically issued during times of severe economic downturns when consumer spending is needed to jumpstart the economy. “That’s not really the case in the present,” he says.

Moreover, a new round of stimulus checks would require legislation passed by Congress. Presidents do not have the authority to unilaterally send out checks, and there is currently no legislation in the works to authorize such payments.

With inflation still a concern, economists also warn that issuing more checks could exacerbate inflationary pressures. The Federal Reserve, which is focused on controlling inflation, is unlikely to approve measures that could spur further consumer demand and push prices higher.

In short, while social media speculation continues, the reality is that another stimulus check under Trump’s next term is highly unlikely without the support of Congress.