FOMC Minutes: New Tax Law "would likely provide a modest boost to capital spending"

A couple of excerpts, the first on the economic impact of the new tax law, and the second on the yield curve. From the Fed: Minutes of the Federal Open Market Committee, December 12-13, 2017 : Many participants judged that the proposed changes in business taxes, if enacted, would likely provide a modest boost to capital spending , al­though the magnitude of the effects was uncertain. The resulting increase in the capital stock could contribute to positive supply-side effects, including an expansion of potential output over the next few years. However, some business contacts and respondents to ......(read more)

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