Fed’s Kaplan Says Infrastructure Spending Will Boost U.S. Growth

Infrastructure investment helps foster higher long-term growth, Federal Reserve Bank of Dallas President Robert Kaplan said Wednesday as the Biden administration laid out an ambitious infrastructure plan.

“The nice thing, and the desirable thing for me about infrastructure spending -- it’s a long-term investment,” Kaplan said in a Bloomberg Television interview with Mike McKee. “It’s an investment you make today or over the years, and it should help in future create higher potential GDP growth, higher sustainable growth, better productivity.”