Earlier in week, Federal Reserve Bank of Atlanta President Raphael Bostic said “reaction to the proposed plan is a real concern, a fear that the new actions will add uncertainty to the economy.”
The British-American relationship, often labeled as special given the historic and cultural ties between the two nations, has been more strained of late.
Biden was no fan of Brexit, which Truss came around to ardently support. But he has little too gain from overtly criticizing an important ally from a major Group of Seven economy, and moreover one that’s supported his stance on Ukraine.
But when it comes economics and ideology, Biden the Democrat and Truss the Thatcherite Conservative could not be more different.
Back in the UK, some observers took that tweet to be a critique of “Trussonomics,” a version of that very policy Biden poured scorn over -- the idea that cutting taxes for top earners will eventually boost growth.
Truss’s government has proposed £45 billion ($49 billion) in annual unfunded tax cuts, and argues its program will boost long-term economic growth.
--With assistance from Christopher Condon and Rich Miller.
This article was provided by Bloomberg News.