This Client Note answers the following questions:
- What is the One Big Beautiful Bill Act (OBBBA), and what major economic and fiscal changes does it introduce?
- How could the OBBBA affect US economic growth, inflation, and interest rates in the coming years?
- What are the risks that US deficit and debt could worsen under the OBBBA, and what could that mean for global financial stability?
- How might the OBBBA shift US energy policy, and what does that mean for global energy markets and clean energy transitions?
- What are the political implications of the OBBBA, and how could US policy direction change after the 2026 midterms?