(Reuters) – On the day the Biden Administration announced a $2 trillion 10-year spending plan to build roads and bridges among other capital projects, Dallas Federal Reserve Bank President Robert Kaplan on Wednesday broadly endorsed the idea as a “positive” for the economy.
“The nice thing and the desirable thing about infrastructure spending is that it is a long-term investment,” Kaplan told Bloomberg Television, without referring directly to the details of the package. “It should help in future create higher potential GDP growth, higher sustainable growth, better productivity.”
(Reporting by Ann Saphir; Editing by Chris Reese)
