The United States in 2020: An actual case of helicopter money

In the second quarter of 2020, the fall in GDP in the United States did not lead to any fall in income for US households. Income s were propped up by public transfer payments, which were financed by money creation, as the fiscal deficit was monetised: it was a clear case of helicopter money. What have been the effects of this use of helicopter money? Household spending was not sustained, as the household savings rate rose sharply; Confidence in the dollar fell, there were capital outflows and the dollar depreciated. The assessment of this episode of helicopter money is far from positive.