Fed should raise policy rate to 2.5 percent over two years: Williams

FAN Editor
FILE PHOTO: U.S. central banker Williams addresses news conference in Zurich
FILE PHOTO: President and Chief Executive Officer of the U.S. Federal Reserve Bank of San Francisco, John Williams, addresses a news conference in Zurich, Switzerland September 22, 2017. REUTERS/Arnd Wiegmann

October 11, 2017

SALT LAKE CITY, Utah (Reuters) – San Francisco Federal Reserve Bank President John Williams said on Wednesday he is getting a “little bit discouraged” about prospects for tax reform, a central goal for the Trump administration.

There is strong consensus among economists that the way the U.S. companies are taxed is outdated, Williams said after giving a talk on low interest rates in Salt Lake City, adding that changes to the corporate tax code could potentially boost U.S. growth. But given the difficulty Congress has had in passing laws this year, Williams said, he is “losing confidence” that any tax reform will be passed in the next six months or so.

(Reporting by Ann Saphir; editing by Diane Craft)

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