Numerous states have decided to take stimulus checks into their own hands and start sending the residents that qualify for them either payment through direct deposit or by mail.
These will start going out starting in September.
Colorado residents are going to receive checks of $750 and $1,500 for couples, thanks to the state's leftover revenue.
Alaska approved a $3,200 direct payment, combining energy relief and the state's Permanent Fund dividend.
Minnesota frontline workers who have submitted an application for direct payments are going to be receiving their checks shortly after the state announces the specific amount.
"The Committee seeks to achieve maximum employment and inflation at the rate of 2% over the longer run," according to an FOMC statement.
Economics and public affairs at Princeton and former vice chairman of the Fed, Alan Blinder, recently wrote in a recent op-ed for the Wall Street Journal that inflation won't be here much longer, and we all just need to patiently wait.
"One day, hopefully soon, food and energy prices will level off, and the supply chain problems will dissipate," Binder said.
He also added that inflation will fall just as fast as it grew.
Experts from Morningstar are in agreement and are predicting higher inflation for the rest of the year but that it will decrease in the coming years as prices are already peaking in the majority of sectors.