Former Fed Chair Doesn’t Forecast Big Impact From Trump Tax Cuts

June 28, 2018 Share Print 0

U.S. President Donald Trump’s tax cuts are likely to give only a meager boost to productivity growth in the United States, former Federal Reserve chief Janet Yellen said on Thursday.

Yellen led the U.S. central bank for four years until February when Trump passed the Democrat over for another term in favor of Republican Jerome Powell.

Yellen took a swipe at Trump’s tax cuts without once mentioning the U.S. president by name during a near hour-long discussion at a conference in Paris hosted by French fund manger Amundi.

Asked about the outlook for productivity growth as a driver of corporate earnings, Yellen said that tax cuts should produce some impact on investment spending and in turn productivity.

via Reuters

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Bio
Twitter
Google+
Latest Posts

Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.