U.S. President Joe Biden emphasized that “The 2022 Inflation Reduction Act will be the most important piece of legislation in history to address the climate crisis and improve our energy security,” given that “the law delivers on promises made by Washington many years ago,” and pointed out that ” we will set a minimum corporate tax of 15 percent,” stressing that “the law will allow America to compete with China and remain a leader in research.”

Biden also urged Congress to pass the proposed legislation, stressing that it is “the most powerful way to bring down inflation,” explaining that “the new law aims to make life easier for Americans and reduce inflationary pressures.”

Yesterday, the US Federal Reserve announced that it would “again raise its key interest rate by 75 basis points to a range of 2.25% to 2.50% to fight inflation.” He expected to “continue to raise the interest rate.” He stressed that “inflation remains high, reflecting imbalances associated with the pandemic, rising food and energy prices and broader price pressures.”