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Exclusive-Rating agencies say Biden’s spending plans will not add to inflationary pressure

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By Kanishka Singh (Reuters) – U.S. President Joe Biden’s infrastructure and social spending legislation will not add to inflationary pressures in the U.S. economy, economists and analysts in leading rating agencies told Reuters on Tuesday. Biden has spent the past few months promoting the merits of both pieces of legislation – the $1.75 trillion “Build Back Better” plan and a separate $1 trillion infrastructure plan. The two pieces of legislation “should not have any real material impact on inflation”, William Foster, vice president and senior credit officer (Sovereign Risk) at Moody’s Investo…

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