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The Independent UK
The Independent UK
National
Via AP news wire

Inflation Reduction Act may have little impact on inflation

Inflation Medicare Joe Biden Douglas HoltzEakin Kent Smetters Leigh Purvis CBO
Copyright 2020 The Associated Press. All rights reserved.

With inflation raging near its highest level in four decades, Congress is poised to approve President Joe Biden's signature Inflation Reduction Act. Its title raises a tantalizing question: Will the measure actually tame the price spikes that have inflicted hardships on American households?

Economic analyses of the proposal suggest that the answer is likely no — not anytime soon, anyway.

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