View: Interest rates are losing their relevance
Inflation has long been a key driver in setting the level of interest rates. Yet price increases, once considered a curse, have been contained in recent decades.
Inflation has long been a key driver in setting the level of interest rates. Yet price increases, once considered a curse, have been contained in recent decades.
In an early verdict on the tax overhaul, Fed policymakers judged it would boost the economy next year but leave no lasting impact, with the long-run potential growth rate stalled at 1.8 percent. The White House has frequently said its tax plan would produce annual GDP growth of 3 percent to 4 percent.