Is stimulus still stimulus if people don’t spend it?

Hopes of a new stimulus package before the US election are dashed, but with a third wave of Covid-19 infections spreading across the US, calls for more federal aid are only getting louder. There is no doubt a second round of stimulus checks would be incredibly helpful for millions of struggling and unemployed Americans. New research from the New York Fed shows more than 70% of a potential $1,500 second payment would be saved or put towards debt payments rather than on buying goods.