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Fed's Kashkari: Trump Could Make 'Our Jobs a Heck of a Lot Easier'

Image: Fed's Kashkari: Trump Could Make 'Our Jobs a Heck of a Lot Easier'

(Getty/Joe Raedle)

By    |   Thursday, 17 Nov 2016 02:14 PM

Minneapolis Federal Reserve President Neel Kashkari said rallies in stocks and bond yields since Donald Trump’s election win is making the job of central bankers easier.

"The markets are speculating about what they think the new Congress and the new president are going to do. And that, so far, seems to be helping the Fed, boosting inflation expectations a little bit," he told CNBC.

Trump and the Republican-controlled House and Senate seek to cut taxes and reduce regulations on businesses.

"That would be good if it actually came true. It would make our jobs a heck of a lot easier. But we need to wait and see," said Kashkari.

The market widely expects the Fed to hike rates when it meets on Dec. 13-14. The cost of borrowing money was last increased in December 2015, the first such move in more than nine years.

For his part, financial guru and Donald Trump adviser Wilbur Ross told Newsmax TV that a priority of  Trump's administration will be to "change the culture" of government to become "pro-business."

Ross — whose name has surfaced as a possible Donald Trump pick for Commerce secretary — deflected comment on whether he was in talks to take on the role. But he said every economic official in the incoming Trump White House must fulfill the president-elect's tax plans because they would spark corporate investment — and spending.

"We have to change the culture of all of the government departments," the WL Ross & Co. chairman and CEO said.

"They've got to become a pro-business culture. They're not right now and haven't been for quite a little while so it's very, very important to make the culture change because it's one thing to change the people at the top, it's the sergeants who run the army, not just the generals," said the specialist in restructuring failed companies.

Ross said Trump's proposed corporate tax-rate cut from the 35 percent maximum rate to 15 percent maximum is the key to reviving economic growth.

(Newsmax wire services contributed to this report).

© 2017 Newsmax Finance. All rights reserved.

   
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Minneapolis Federal Reserve President Neel Kashkari said rallies in stocks and bond yields since Donald Trump's election win is making the job of central bankers easier.
fed, kashkari, donald trump, economy
338
2016-14-17
Thursday, 17 Nov 2016 02:14 PM
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