The Fed’s forecasts for the economy confirm what everyone already knows about the GOP tax cut plan
|12/13/2017||Posted by BusinessMediaguide.Com under General World News||
- Fed Chair Janet Yellen says the prospect of tax cuts has been built into Fed forecasts for some time, and the central bank does not expect a major boost to growth.
- Yellen said tax cuts were discussed by Fed members at this week’s meeting, which culminated in an interest rate increase.
The Federal Reserve raised interest rates on Wednesday and released a new batch of economic forecasts that very much reaffirm conventional wisdom among economists about the Republican tax cut plan: it will not do much to boost economic growth.