Even Bernie Sanders said it won’t do much for inflation.
But it is great for sending money to your friends and associates.
On the contrary - the “Inflation (IN)duction Act” will have a most notable effect upon inflation, the rate of inflation will RISE, perhaps pretty sharply. This last month’s figures are purposely fudged, largely through the effect of releasing a million barrels a day from the Strategic Petroleum Reserve, a very short-term application of a Band-Aid to a growing cancer.
Shortly after Election day, the SPR will be pumped virtually dry. Then the REAL market prices will kick in.