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President Joe Biden speaks about the Inflation Reduction Act of 2022 during a ceremony on the South Lawn of the White House in Washington, Tuesday, Sept. 13, 2022.
Image: Andrew Harnik/APImage: Andrew Harnik/AP

Inflation Reduction Act

The Inflation Reduction Act is a landmark US law which aims to curb inflation by reducing the deficit, lowering prescription drug prices, and investing into domestic energy production while promoting clean energy.

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All Content on this topic

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Joe Biden is running for reelection in 2024. A look at the promises he has kept, and those he hasn't lived up to.
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The Biden administration is luring companies with big subsidies. What will this mean for Germany as a business location?
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Robert Habeck and Bruno Le Maire are in the US for talks on the Biden administration's Inflation Reduction Act.
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Federal Reserve Chairman Jerome Powell at a press conference on February 1, 2023

US Fed raises interest rates by 0.25 points

The central bank appears to be slowing on its aggressive approach of hiking interest rates to tame soaring prices.
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EU unveils green industry plan to counter US spending spree

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