Washington | The US Federal Reserve will need to keep cutting interest rates once Donald Trump becomes president, as the president-elect’s promise to slash the corporate tax rate will take time to filter through the economy, according to fund manager Cathie Wood.

Business leaders and Wall Street are eagerly awaiting Trump’s delivery of a pledge to cut the corporate rate to 15 per cent from 21 per cent, a reduction which they believe will trigger investment and stimulate higher growth rates.