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The Inflation Reduction Act of 2022 (IRA) is a landmark United States federal law which aims to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting clean energy.
The Inflation Reduction Act (IRA) passed by the Senate over the weekend will pursue an extremely wide and varied array of strategies intended to combat climate change.
As of the middle of 2022, President Joe Biden has his hands full economically. U.S. stocks are in a bear market, the Fed is aggressively raising interest rates and inflation is running at 40-year...
When the Federal Reserve raised interest rates to combat inflation in 1980, homebuilders mailed lengths of lumber to Chairman Paul Volcker's office as a form of protest, since higher interest ...
A government-set minimum wage is a price floor on the price of labour. A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, [21] good, commodity, or service. A price floor must be higher than the equilibrium price in order to be effective. The equilibrium price, commonly called ...
In any event, the inflation Americans have had to contend with over the past few years is the product of a confluence of events that include the war in Ukraine, government spending and pandemic ...
A statement on the government's website said the State Council had approved a plan to invest 4 trillion yuan in infrastructure and social welfare by the end of 2010. [5] [6] This stimulus, equivalent to US$586 billion, represented a pledge comparable to that subsequently announced by the United States, but which came from an economy only one third the size. [7]
But the economy is still expanding robustly, the job market remains tight, and inflation continues to be above the 2% target. That means the Fed has more work to do to cool the economy.