A year of the Inflation Reduction Act

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A year of the Inflation Reduction Act
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News, analysis and comment from the Financial Times, the worldʼs leading global business publication

US stocks hit a five-week low as a warning of potential Fitch downgrades sent bank shares lower, Beijing is making one of its biggest top-down efforts in years to tackle

the debts racked up by local governments, and a year after passage of the US Inflation Reduction Act and Chips Act the vast majority of investment is going to red states.

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