Economics
Trump Counts on Fed to Help Sustain Economic Bump From Tax Plan
- White House’s Hassett says package will boost productivity
- Fed watchers caution it will lead to higher interest rates
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The Trump administration is banking on the Federal Reserve not to squelch any bump in economic growth from the Republican tax plan.
White House chief economist Kevin Hassett argues that the tax overhaul will boost productivity, allowing the U.S. economy to grow more rapidly without risking a damaging bout of higher inflation that would be an anathema to the Fed.