A very "Keynesian" policy with Joe Biden: What consequences?

The Biden administration’s economic policy is likely to be very “Keynesian”: increase in public spending on education, healthcare, infrastructure and energy transition, and moderate tax increases. This means that the US fiscal deficit will remain high during Biden’s term and, as a result, the US external deficit will also be high in a situation where the private savings rate could also fall. This may further exacerbate the trade tension between the United States and the rest of the world (Europe, China). This may also create a n external financing problem for the United States, especially since Europe, which has become the United States' main creditor, will use its savings to finance its recovery plans and no longer to finance the United States. The Federal Reserve is also likely to maintain a very expansionary monetary policy: if there are problems financing the US external deficit and low dollar interest rates, the consequence can only be a depreciation of the dollar.