Professor Krugman’s ‘Republican-Democratic Struggle Inflation Act for Proof of Climate Policy’

Professor Pull Krugman told the Korean media about the US Inflation Act (IRA) as "to prove the Democrats' climate response policy in the political struggle against the anti-democratic Republican Party to create jobs."
Poul Krugman, a professor at the City University of New York (Nobel Prize in Economics), said in an interview with Maeil Business News on the 3rd, “Korea needs to look at the constraints faced by the Joe Biden administration in a realistic way. “There is a dangerous political struggle going on right now with a very anti-democratic party in the United States,” he said. “Even if we file a lawsuit against the trade agreement, it will not have much impact on the U.S. government,” he said.
After a meeting with the U.S. National Security Adviser Kim Seong-han, National Security Office Director Kim Seong-han said, "The US emphasized that the Inflation Reduction Act is not a law limited to electric vehicles, but has a strategic direction on how to redefine the supply chain, especially the supply chain problem between liberal countries. So I think we'll need to check it out," he told reporters in Korea.
A spokesperson for the Japanese Embassy in the U.S. told Politico, "Although there is a need to continue to analyze the impact in detail, we are very concerned that such a measure has been taken while discussions on supply chain cooperation are progressing." "We have communicated our views to the US through all possible channels, and we will continue to work with our partners, including the EU," Yonhap News TV reported on the 5th from Washington.
U.S. State Department spokeswoman Ned Price said at a regular briefing on the 22nd of last month, "This is part of the law that will positively affect the position of the United States not only at home but also in the world." We must show that the United States is making progress on climate issues, emphasizing the importance of delivering on our commitments to our goals. (This law) is important to the United States on a number of issues, including climate issues.”
Professor Krugman said of the U.S. economy: “I expect the Fed to raise interest rates to 4% by the end of the year. This will certainly result in a slowdown. After all, slowing the economy to cool inflation is at the heart of the Fed's current policy. It takes time to lower fundamental inflation. The U.S. economy will return to its pre-COVID-19 state by 2024, but it could take longer," he said in an interview with Maeil Business News.