October 18, 2017 / 3:15 PM / 6 months ago

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

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.

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

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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