Tax cuts pushed Fed to raise economic forecast, meeting minutes show
Federal Reserve officials expect reductions in corporate and personal taxes to boost consumer and business spending, though they remain unsure of the impact of the new tax law, according to minutes released Wednesday from their December meeting.
Members of the Federal Open Market Committee increased their expectations for 2018 GDP growth from 2.1 percent, or about trend since the post-financial crisis recovery, to 2.5 percent.
"Most participants indicated that prospective changes in federal tax policy were a factor that led them to boost their projections of real GDP growth over the next couple of years," the minutes stated.
https://www.cnbc.com/2018/01/03/fom...ts-pushed-fed-to-raise-economic-forecast.html
Federal Reserve officials expect reductions in corporate and personal taxes to boost consumer and business spending, though they remain unsure of the impact of the new tax law, according to minutes released Wednesday from their December meeting.
Members of the Federal Open Market Committee increased their expectations for 2018 GDP growth from 2.1 percent, or about trend since the post-financial crisis recovery, to 2.5 percent.
"Most participants indicated that prospective changes in federal tax policy were a factor that led them to boost their projections of real GDP growth over the next couple of years," the minutes stated.
https://www.cnbc.com/2018/01/03/fom...ts-pushed-fed-to-raise-economic-forecast.html
