NBER explores reasons for persisting unmet need despite CARES Act bolstering the social safety net

A new working paper from the National Bureau of Economic Research explores why material hardships have continued for many Americans despite the robust policy response in the CARES Act. The paper details estimated economic need and the details of federal policy action including the CARES Act. Ultimately, the authors conclude that there are three main drivers of the remaining unmet economic need: that relief was delayed, relief payments were modest (with the exception of unemployment insurance), and there have been holes in coverage. #covid-19