US President Biden: Yes we will reach an infrastructure deal

Anil Panchal FXStreet

Having recently heard from Democratic Senator Joe Manchin, President Joe Biden also conveyed optimism over reaching a deal on the much-awaited infrastructure spending bill.

While responding to the question on reaching an agreement over the infrastructure bill, President Biden said, “Yes we will.”

Following that, in a CNN Town Hall Speech, US President Biden said, “Most experts believe long-term inflation is not likely to get out of hand.”

“Bipartisan infrastructure pact to come by Monday,” added Biden while also saying that His economic plans will reduce inflation longer term.

It’s worth noting that the US Senators have already pushed back the opening debate on the much-awaited stimulus late Wednesday.

Read: Gold Price Forecast: XAU/USD remains indecisive around $1,800 amid pre-ECB trading lull

Update

There is some evidence government benefits have given people an incentive not to go back to work.

Restaurants, tourism business may be ‘in a bind for a while’ as employees shift into other higher-paying sectors.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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