Minneapolis Fed’s Kocherlakota urges review of US tax code


Congress should modify the United States tax system to reduce the incentives for destabilising activities by banks and households, Narayana Kocherlakota, the president of the Minneapolis Federal Reserve, said on June 27.

At the Tri-State Bankers Summit in Montana, US, Kocherlakota said: "Other elements of the policy environment need to be as supportive as possible of the regulatory agencies. It is for this reason that I believe policymakers should be willing to reconsider the extent of leverage

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