Fed officials say tax cuts could boost economy
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.
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Chinese firms are investing abroad at fastest pace in eight years
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1