Manufacturing Investment is Soaring

[Captain Caveman]

This has never been seen before.



This is due to the misnamed Inflation Reduction Act, the Chips and Science Act, and a push to bring supply chains away from China.

What does the graph mean? I looked up chained dollars -

Chained dollars - Wikipedia

en.m.wikipedia.org

I'll have to put 'chained dollars' on my reading list, it's after midnight here, tired head. Is chained dollars manufacturing?

Edit :-

https://r.search.yahoo.com/_ylt=AwrkLLq9LahmGYo2AF9B4iA5;_ylu=Y29sbwNpcjIEcG9zAzIEdnRpZAMEc2VjA3Ny/RV=2/RE=1722326590/RO=10/RU=https%3a%2f%2ffred.stlouisfed.org%2fseries%2fPNFIC1/RK=2/RS=EAhfcrdvw6oDQWVFAuCt9ZMNL2A-

Oh I see. Private firms, people, non profit businesses investing in assets, replacing worn out equipment etc.. So as production begins to ramp up after COVID, obviously trying to increase machinery capacity to try to catch up with the sudden demand.

And it's never been seen before? Well, many times has America come out of a pandemic lockdown? Is this being put down to a Biden accomplishment? That's a bit cheeky/fraudulent isn't it?