The phrase "psychological impact" refers to the effect that a particular event, situation or experience has on an individual's emotions, thoughts and behavior. It describes how someone feels emotionally as a result of something they have experienced or witnessed, which can cause changes in their mental state, mood or outlook. This phrase is often used to describe the long-term effects that certain events may have on people, such as trauma, grief or stress, and can be used to refer to both positive and negative experiences.