US VP Harris: Curbing inflation is one of the top priorities for 2022

Anil Panchal FXStreet

“I'm the tiebreaker. I'm the tie vote,” said US Vice President Kamala Harris while shrugging off fears over US President Joe Biden’s Build Back Better (BBB) stimulus plan during an interview on CBS' "Face The Nation" television show.

US VP Harris also cited battling inflation and coronavirus as major concerns and mentioned, “The United States must address the rising cost of consumer goods,” on the stated TV appearance.

“The United States and Russia are in direct talks about Ukraine,” adds US VP Harris.

It’s worth noting that Goldman Sachs recently raised doubts over the passage of the BBB while saying, “While Congress is likely to approve some new spending on manufacturing and supply chain-related incentives, we no longer expect the Senate to pass the Build Back Better bill and the near-term spending it includes on the extension of the expanded child tax credit."

FX reaction

Given the push for inflation control hints at tighter monetary policy, the US dollar should have benefited from the news. However, holiday mood restricts the market reaction despite helping the greenback and adding to the risk-off mood.

Read: AUD/USD extends pullback from monthly high towards 0.7200 amid Omicron woes

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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