The Inflation Reduction Act, one year on

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Photo by Win McNamee / Getty Images. This article was originally written as a weekly newsletter for subscribers to the Green Transition. To see previous newsletters and subscribe, click here. This week President Joe Biden marked the first anniversary of signing into law of the Inflation Reduction Act, a landmark piece of US domestic legislation that has been heralded as the centrepiece of “Bidemonics”. The act’s impact on inflation is disputed, but it was introduced at a time of near-double-digit price hikes, so the title offered a handy way of signalling to American voters that the legislation was supposedly dealing...