As fate would have it, the Federal Reserve is the latest bureau to see more winning with another Trump success. This time it is the new tax plan, The Fed is painting a very nice picture to go into next year with. They see this tax plan as a win.
The Federal Reserve was created to help maintain financial balance and prevent panic in financial institutions. Since it’s founding, its responsibilities have grown. Now they monitor all aspects of the nation such as maximizing employment, stabilizing prices, and moderating long-term interest rates.
As Written By John Carney for Breitbart:
The Fed put its considerable weight behind tax cuts Wednesday, announcing that it sees tax cuts as contributing to economic growth without driving inflation higher than its target.
The Federal Reserve’s policymakers upgraded their forecast for economic growth next year and lowered their projections for unemployment while leaving their view of interest rates and inflation unchanged.
The median forecast of members of the Federal Open Markets Committee, its monetary policy body, for economic growth in 2018 rose from 2.1 percent to 2.5 percent, an increase of nearly one-fifth. As well, the Fed’s median projection for unempl0yment fell to 3.9 percent from 4.1 percent.
Fed chief Janet Yellen said these improved projections reflect the expectations of tax cuts, which she said is viewed by many Fed officials as stimulating increased economic growth and improved economic productivity.
Despite the raised expectations for growth and lower expected unemployment, the Fed left its expectations for interest rates and inflation unchanged……..
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