US Fed says tax cuts could boost economy more than expected
Exterior view of the US Federal Reserve building in Washington, DC. (AFP/KAREN BLEIER)
WASHINGTON: US central bankers said the recent tax cuts could juice the economy more than expected in the near term, meaning further interest rate hikes likely will be needed, according to meeting minutes released on Wednesday (Feb 21).But the minutes also revealed a split on the Federal Reserve's policy-setting committee, with some officials saying the central bank can afford to be patient in raising the benchmark lending rate, according to the minutes of the Jan 30-31 meeting.Despite the expectations for an economic boost from the December tax cuts, the minutes stressed that the impact remains uncertain.
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