Can US reduce inflation by severing supply chains?
On Aug 16, US President Joe Biden signed into law the Inflation Reduction Act of 2022, according to which $369 billion would be invested in clean energy to reduce emissions and fight climate change, $64 billion would be spent under the Affordable Care Act to lower health insurance costs, and a minimum of 15 percent corporate tax would be imposed on companies earning more than $1 billion a year.