Reuters reveals rating agencies say Biden’s spending plans will not add to inflationary pressure; Washington reacts

Business & FinancePolitics

The inflationary impact of U.S. President Joe Biden’s $1.75 trillion dollar plan for expanding the nation’s social safety net and fighting climate change has been at the center of the political debate in Washington for weeks. In an exclusive report, analysts from leading rating agencies Fitch Ratings and Moody’s Investors Service told Reuters that Biden’s package will not add to inflationary pressures in the U.S. economy. Following the Reuters report, Biden’s chief of staff tweeted out the story, Senate Democratic leader Chuck Schumer cited it in remarks on the Senate floor, the White House highlighted it in a news release and Biden himself seized on the story as he kicked-off a speech on his agenda. Biden then tweeted it a day later.

Article Tags

Topics of Interest: Business & FinancePolitics

Type: Reuters Best

Sectors: Economy & Policy

Regions: North America

Countries: US

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Major Global StorySignificant National Story

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