Historical Comparison

The 1990s saw an extended period of full employment, high growth, and low inflation. Part of this achievement was attributable to healthcare cost control efforts undertaken by both public- and private-sector actors.

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

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