October 18, 2017 / 3:16 PM / 2 years ago

U.S. tax reform may help economy: N.Y. Fed's Dudley

FILE PHOTO: William C. Dudley, President and Chief Executive Officer of the Federal Reserve Bank of New York speaks during a panel discussion at The Bank of England in London, Britain, March 21, 2017. REUTERS/Kirsty Wigglesworth/Pool/File Photo

NEW YORK (Reuters) - An overhaul of U.S. tax code to make it simpler and more broad-based should foster business investments and productivity, boosting overall domestic economic growth, New York Federal Reserve President William Dudley said on Wednesday.

The current tax system, which is seen as burdensome and complex, “cannot be productivity enhancing,” he said on a panel about regional economic trends with Dallas Fed President Robert Kaplan, sponsored by Hearst and Partnership for New York City.

Reporting by Richard Leong

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