Tax cuts could risk overheating the U.S. economy

Wages to quickly rise

New York Federal Reserve President William Dudley is worried new tax cuts could risk overheating the U.S. economy in the next few years.
Economic prospects in 2018 are looking “reasonably bright,” Dudley said in a speech to the Securities and Financial Markets Association on Thursday. He expects unemployment to remain low and wages to quickly rise.

But Dudley warned that central bankers may have to “press harder on the brakes” at some point in the next few years to help stave off a possible recession.
http://money.cnn.com/ … Fri., 12  January 2018

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