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Fed: Tax cuts key to higher economic growth forecasts

Natalie Sherman

New York business reporter

Janet Yellen
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Federal Reserve Chair Janet Yellen is commenting on the decision to raise rates.

She says the package of tax cuts being debated in Congress was one of the key factors that led the Fed to boost its outlook for economic growth.

Some Fed members have been factoring in expectations of those changes for some time, she added. She said they expect increased consumer spending, among other effects, but there remains "considerable uncertainty" about the impact