US President Biden signs inflation reduction law and already creates 170,000 jobs

US President Biden signs inflation reduction law and already creates 170,000 jobs

According to a report by rp-online.de, US President Joe Biden has signed the Inflation Reduction Act (IRA), which promotes the expansion of renewable energy and the fight against global warming. Biden called the law one of the greatest drivers of jobs and economic growth in the country's history. In just one year, the law has already created 170,000 jobs in the renewable energy sector, and this number is expected to grow to 1.5 million jobs over the course of a decade.

Impacts on the market and the financial sector could be as follows:

1. Jobs im Bereich erneuerbarer Energien: Mit dem Ausbau erneuerbarer Energien werden voraussichtlich mehr Arbeitsplätze in diesem Sektor entstehen. Das schafft neue Chancen für Arbeitnehmer und kann die Arbeitslosigkeit senken.

2. Economic growth: Investments in renewable energy can stimulate economic growth. New projects and infrastructure are created, leading to increased economic activity.

3. Opportunities for green technologies: The Inflation Reduction Act promotes the use and development of green technologies. This opens up new business opportunities for companies in the field of renewable energy and environmental protection.

4. International trade relations: The EU has expressed concerns that the billions of euros in subsidies under the IRA could hurt trade and put European companies at a disadvantage. This could lead to tensions and trade conflicts between the US and the EU.

Overall, the Inflation Reduction Act is expected to have a positive impact on the market and financial sector, particularly in the renewable energy sector. However, it remains to be seen how transatlantic relations will develop and how other countries will react to US policy decisions.

Source: According to a report from rp-online.de