Will the new US tax code spur growth?

While the Tax Cuts and Jobs Bill is most likely to be passed in the US, it might end up expanding the deficit

For financial markets, last week was as eventful as it could get. For one thing, the appointment of the new US Federal Reserve boss was announced. Jerome Powell, the new chief who takes over in February 2018, is a mild-mannered centrist and monetary policy is likely to continue on the gentle course mapped by current Chairperson Janet Yellen. This does not mean the Fed would not hike rates further. In fact, going by the release from the Federal Open Market Committee meeting (yet another heavy-duty event) last Wednesday, the US monetary authority is likely to hike the signal Fed Funds