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MarketWatch First Take: Powell would sooner dismiss his colleagues than Trump’s tax cuts

C-SPAN
This man will not demean tax cuts.

The question came quick, and Federal Reserve Chairman Jerome Powell didn’t like it one bit.

Paraphrased: If the tax cuts signed into law by President Trump are so great, why didn’t the Fed hike growth forecasts very much? Huh? HUH?

(The actual question: “Is the continued talk in Washington about tax cuts bringing growth to 3% or higher on a sustained basis overselling their potential impact?”)

See:Fed lifts rates in Powell’s first meeting, says economic outlook has strengthened

To which Powell responded, don’t pay attention to those forecasts. Or more precisely:

“The summary of economic projections is individual forecasts compiled and written down.

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