Headwinds and Tailwinds:  Where is the U.S. economy going?

Опубликовано 6 сентября 2016, 5:18

Is productivity growth a tailwind or a headwind? What are the dominant forces likely to affect economic prospects in the short run? How dangerous are the twin deficits—the budget and trade deficits—in the long run? A variety of factors, from technology-induced productivity growth to stock market booms and busts, corporate governance scandals, wars, oil price hikes, massive monetary and fiscal stimulus and record trade deficits, have been pushing and pulling the U.S. economy.  This discussion will examine factors affecting the prospects of the economy in 2005 and beyond, with an emphasis on the conduct of monetary and fiscal policy.