Dudley warns Trump tax plan leaves US finances ‘unsustainable’

william-dudley
William Dudley

Recent tax cuts overseen by the Trump administration leave the US’s finances on an unsustainable path, and may force the Federal Reserve to take more aggressive tightening measures, William Dudley said on January 11.

The New York Fed chief warned the tax cuts “come at a cost”, particularly in the longer run. “While this does not seem to be a great concern to market participants today, the current fiscal path is unsustainable,” he said.

Dudley said he was not particularly concerned about some

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