75 Percent of ‘Poorly Targeted’ $800 Billion PPP Money Sent to Unintended Recipients: Study

75 Percent of ‘Poorly Targeted’ $800 Billion PPP Money Sent to Unintended Recipients: Study
Prices advertised outside of a grocery store in the Flatbush neighborhood of Brooklyn, New York City, on June 15, 2022. Spencer Platt/Getty Images
Tom Ozimek
Updated:
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A multi-billion-dollar pandemic-era stimulus program meant chiefly to help small businesses keep staff on the payroll and hire back laid off employees was poorly targeted, with only about one-quarter of the money supporting jobs that would otherwise have disappeared, a new Fed report shows.

Lockdowns and a collapse in consumer spending during the first wave of the pandemic drove fears that America’s small business sector was at risk of a collapse.

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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