Growth

Summary Amidst all of the understandable concern with inflation and recession risks, the evidence continues to foretell a welcome inflection point on the horizon—a rare procyclical upturn in productivity growth. We continue to see signs that a maturing labor market—in which employment rates fully recover from recessionary damage

This is the first of our Fed Research Roundup series. In this post, we examine the question of whether monetary policy constrains the supply-side, and what that means for inflation.