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US tax cuts a bad idea now but will boost growth, help Fed hike rates: Poll

The Fed is likely to raise rates three times in 2018, in line with the central bank's own projections


The US government was wrong to cut taxes at this stage of the business cycle given the economy is near full employment, but will nonetheless help lift growth this year and give the Federal Reserve more reason to raise rates, a Reuters poll of economists found. While the 2018 growth outlook was once again upgraded in the latest poll of over 100 economists taken Feb. 8-14, expectations for when the Fed's preferred inflation measure reaches its target was pushed back a quarter to early next year. The poll forecast the Fed's preferred inflation gauge - core PCE prices - would ...

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First Published: Thu, February 15 2018. 07:16 IST