Lagarde: Biden stimulus will have some impact on inflation
European Central Bank (ECB) President Christine Lagarde said on Thursday she expects the United States President Joe Biden’s $1.9 trillion stimulus package to have “some impact” on the bank’s growth and inflation outlook, but noted it Is still early to say what kind of impact.
Lagarde pointed out the ECB Governing Council didn’t take the US stimulus into account this time as the package is yet to be signed into law. She noted ECB staff have been “diligent” in looking at the Biden plan and assessing the impact it could have on growth and inflation expectations, but noted they also want to look at the final law signed by Biden before including it in their provisions.
Biden’s stimulus package was passed by the House on Wednesday and is set to be signed by the US president on Friday.
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