Impact of U.S. tax reform may last longer than expected: Fed’s Bostic

JACKSON, Miss. (Reuters) – The stimulus to the U.S. economy from the recent tax reform plan may stretch out longer than expected as businesses take time to unravel what the “complicated” overhaul means for them, Atlanta Federal Reserve bank president Raphael Bostic said on Thursday.

FILE PHOTO: Raphael Bostic, President of the Federal Reserve Bank of Atlanta, poses for a photo in Knoxville, Tennessee, U.S., March 23, 2018. REUTERS/Ann Saphir/File Photo

“The tax reform was complicated and it took businesses a long time to figure out what it meant,” said Bostic, arguing that the boost to the economy may stretch out over a longer period of time than expected. “You are only going to start to see actions.”

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