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Bullard, James on 2018 January 4 at 13:30

A lot of good things were done in this tax bill… I do hold out the possibility that the tax bill will unleash a lot of investment in the U.S. and you will then get an outsized effect.

“A lot of good things were done in this tax bill,” said Bullard, who endorsed the alignment of U.S. corporate taxes closer to developed world norms and said he felt that raising the standard deduction would weaken the constituencies behind itemized tax breaks that can distort economic decisions. “I do hold out the possibility that the tax bill will unleash a lot of investment in the U.S. and you will then get an outsized effect.” Bullard said his “base case” was for only a modest increase in capital spending, and a possible shift in the economy’s long-term potential growth by a few tenths of a percentage point -- not a dramatic change for the near term but important over the long run. A lot of good things were done in this tax bill… I do hold out the possibility that the tax bill will unleash a lot of investment in the U.S. and you will then get an outsized effect. Bullard, James

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