Record-Breaking $1.9T Relief Bill Passes US House, Heads to Biden’s Desk

The U.S. House of Representatives passed a $1.9 trillion relief bill on Wednesday, sending the bill to President Joe Biden’s desk for his signature. 

The bill, already passed by the Senate, has been the subject of heated debate among policymakers and economists who are concerned about inflation when the coronavirus pandemic-wrecked economy recovers. 

The financial relief is expected to contribute to that may occur when most Americans are vaccinated and able to begin traveling and spending the way they did prior to when COVID-19 restrictions were put in place. 

Bitcoiners have touted the stimulus as an opportunity for the limited-supply digital asset to shine as . The Federal Reserve has said it , on average, until at least 2023. 

The bill is unlikely to affect the price of , said Steven Kelly, a research associate at the Yale Program on Financial Stability.

“Given markets have known the payments were going to be hitting folks’ accounts soon, I don’t know that’ll we see some unexpected jump in bitcoin or other risk assets,” Kelly said. “Not least because there is still a lot of economic pain out there. These checks will go toward filling that gap first and foremost. I don’t expect this to be a government funding of the retail investor army by any means, though I’m sure some anecdotes will come out to that effect.” Also today, according to a report in the Washington Post, Democrats in Congress are considering .

US Inflation Rate Accelerates in February, Could Go Higher as Economy Reheats

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