Stanley Fischer upbeat on US productivity potential
Fed vice-chair says productivity cycles are ‘extremely difficult to predict'
Productivity cycles are "extremely difficult to predict" and recent weaknesses, which some argue may represent the real norm for the US economy, could reflect cyclical factors associated with the financial crisis, Federal Reserve vice-chair Stanley Fischer said today at a conference in Stockholm, Sweden.
"Possibly we are moving into a period of slower productivity growth," Fischer said – but added there was a possibility that productivity continues to rise in line with its long-term historical
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