Washington,London | The US Federal Reserve’s recently retired vice chairman, Randal Quarles, says the Truss government’s plan to cut taxes to restimulate the post-COVID economy was a good idea, but scaling it back was the wrong move.
“The UK plan was quite workable,” Mr Quarles – who until last December was the second-most powerful person in central banking – told The Australian Financial Review on the sidelines of a private lunch in Washington.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
