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Fed official tentatively predicts U.S. tax-cut effects next year
June 1, 2017 / 12:56 PM / 6 months ago

Fed official tentatively predicts U.S. tax-cut effects next year

NEW YORK (Reuters) - A Federal Reserve governor said on Thursday he was tentatively predicting some form of tax cuts would be adopted and have an effect on the U.S. economy next year, though it remained far from clear.

FILE PHOTO: Federal Reserve Governor Jerome Powell attends the Federal Reserve Bank of Kansas City's annual Jackson Hole Economic Policy Symposium in Jackson Hole, Wyoming August 28, 2015. REUTERS/Jonathan Crosby

Fed Governor Jerome Powell said the scope and timing of such cuts were “highly uncertain” and thus the U.S. central bank should not adjust its forecasts now. The Trump administration and Republican-controlled Congress say they want tax reform.

Reporting by Jonathan Spicer; Editing by Chizu Nomiyama

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