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Kashkari says it's unclear whether tax cuts will boost investments

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Kashkari says it's unclear whether tax cuts will boost investments

Minneapolis Federal Reserve President Neel Kashkari said he is not certain the recently passed tax law will help boost business investment, which would then lift productivity and lead to higher economic growth, according to a Reuters report.

Kashkari said it is not clear whether there will be a dramatic pickup in investments, since companies could already get credit fairly easily before the tax cuts passed, Reuters reported. He also continued to say the Fed should be patient in raising interest rates until there is clear proof that inflation is rising toward the Fed's 2% target.

Kashkari is not a voter this year on the Federal Open Market Committee.