U.S. President Donald Trump’s tax cuts are likely to give only a meager boost to productivity growth in the United States, former Federal Reserve chief Janet Yellen said on Thursday.
Yellen led the U.S. central bank for four years until February when Trump passed the Democrat over for another term in favor of Republican Jerome Powell.
Yellen took a swipe at Trump’s tax cuts without once mentioning the U.S. president by name during a near hour-long discussion at a conference in Paris hosted by French fund manger Amundi.
Asked about the outlook for productivity growth as a driver of corporate earnings, Yellen said that tax cuts should produce some impact on investment spending and in turn productivity.
