January 17, 2017 / 3:05 PM / 2 years ago

Border tax could bump up dollar, import prices: Fed's Dudley

New York Fed President William Dudley takes part in a panel convened to speak about the health of the U.S. economy in New York, U.S. on November 18, 2015. REUTERS/Lucas Jackson/File Photo

NEW YORK (Reuters) - A U.S. cross-border tax could propel the dollar and raise the prices of imported goods and services, Federal Reserve Bank of New York President William Dudley said Tuesday.

“Border tax adjustment may lead to a higher value in the dollar and changes in imported goods,” Dudley said in the question-and-answer portion of his appearance after his speech at a gathering of the National Retail Federation in New York.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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