Moody’s Mark Zandi: Manchin-Schumer Inflation Act Will ‘Nudge’ Inflation Lower

BOLDUAN All right let ░░░░░░░░ see what happens It ░░░░░░░░ good to see you ░░░░░░░░ Thank you so much ░░░░░░░░ me right now for ░░░░░░░░ on this is the ░░░░░░░░ Economist for Moody s ░░░░░░░░ Mark Zandi Mark it ░░░░░░░░ good to have you ░░░░░░░░ again One thing that ░░░░░░░░ Manchin has been focused ░░░░░░░░ when he talks about ░░░░░░░░ deal and why he ░░░░░░░░ he s happy with ░░░░░░░░ proposal is he says ░░░░░░░░ s going to cut ░░░░░░░░ inflation From your perspective ░░░░░░░░ and you ve done ░░░░░░░░ know a preliminary analysis ░░░░░░░░ this as there s ░░░░░░░░ real bill out there ░░░░░░░░ yet what will this ░░░░░░░░ likely due to inflation ░░░░░░░░ It ll nudge it ░░░░░░░░ You know it lowers ░░░░░░░░ drug costs which is ░░░░░░░░ know a key cost ░░░░░░░░ a lot of seniors ░░░░░░░░ lowers the cost of ░░░░░░░░ insurance for lower income ░░░░░░░░ in longer run because ░░░░░░░░ the climate provisions it ░░░░░░░░ reduce the cost of ░░░░░░░░ for households to improve ░░░░░░░░ So net net it ░░░░░░░░ push inflation lower You ░░░░░░░░ it s not a ░░░░░░░░ changer by any respect ░░░░░░░░ you know certainly not ░░░░░░░░ the near term but ░░░░░░░░ senator is right it ░░░░░░░░ reduce inflation over the ░░░░░░░░ ten year budget horizon ░░░░░░░░ they re focused on ░░░░░░░░ If it only modestly ░░░░░░░░ inflation or nudges it ░░░░░░░░ then I guess it ░░░░░░░░ becomes a question of ░░░░░░░░ it worth the cost ░░░░░░░░ do you think ZANDI ░░░░░░░░ I do I think ░░░░░░░░ s very important I ░░░░░░░░ I think all of ░░░░░░░░ thing provisions here are ░░░░░░░░ critical to people to ░░░░░░░░ But you know the ░░░░░░░░ piece is particularly important ░░░░░░░░ is the first real ░░░░░░░░ by the federal government ░░░░░░░░ address climate risk And ░░░░░░░░ s a big deal ░░░░░░░░ s a real significant ░░░░░░░░ In fact if you ░░░░░░░░ know you got to ░░░░░░░░ it with a grain ░░░░░░░░ salt when you look ░░░░░░░░ long into the future ░░░░░░░░ that s BOLDUAN Right ░░░░░░░░ what we need to ░░░░░░░░ with climate risk This ░░░░░░░░ significantly reduce CO2 emissions ░░░░░░░░ emissions which will ultimately ░░░░░░░░ in significant economic benefits ░░░░░░░░ down the road but ░░░░░░░░ think this is really ░░░░░░░░ to long term economic ░░░░░░░░ Yes.”