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United States : Joe Biden’s stimulus package and its future impact on the global economy

United States : Joe Biden’s stimulus package and its future impact on the global economy

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The recovery plan recently unveiled by the new American President is causing much controversy in the economic world. And for good reason: the additional stimulus of $1.9 trillion announced by Joe Biden followed the $900 billion plan to support the U.S. economy passed by Congress on December 21, 2020, and then enacted by the White House on December 27. So, what are the real consequences of this plan for the U.S. economy, but also for the world economy?

 

At first, Joe Biden’s recovery plan seemed to be blowing a slightly positive wind on the American and world markets. Indeed, the three main American indices have recently set new historical records, even if these results are not only due to the plan, but also to the acceleration of vaccination campaigns and central bank support.

 

On the other hand, this positive influence of the stimulus plan is very fragile and can very quickly reverse the situation. The further the threat of inflation looms over the US economy, the more it is perceived by investors. Investors remain on their guard as they await concrete signs of progress on the US stimulus front, which is expected to be voted on this month.

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As a result, the Dow Jones gained 0.20% to 31,522.75 points on Tuesday but the Nasdaq fell for the first time in three sessions (-0.34%) and the S&P 500 lost 0.06%.

 

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