Last quote by Josh Bivens
Today's hike seems to signal that Fed policymakers think that we're currently at or very near full employment, and that failing to slow the pace of economic growth in coming months would soon lead to accelerating wage and price inflation. They could be right, of course, but it is important to note that there is little in actual economic data to indicate this.feedback
Mar 17 2017
Find all of Josh Bivens’s quotes that have been published in 3 different articles on this page. Josh Bivens’s quotes are organized by date and topic, making it easy for you to compare, for example, what Josh Bivens has said both recently, and in the past, on a variety of topics. Some of the topics Josh Bivens likes to comment on include risk and windfall. Most recently, Josh Bivens said, “It's really hard to get a handle on what the underlying trend in the growth rate of productivity is by looking at just the last couple of years. If you start to think about what has been strange about the last five or six years in the economy that has coincided with this deceleration of productivity, it's really obvious: We're still very scarred from the fallout from the Great Recession.”.
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Quotes by Josh Bivens
Mar 14 2017
It's really hard to get a handle on what the underlying trend in the growth rate of productivity is by looking at just the last couple of years. If you start to think about what has been strange about the last five or six years in the economy that has coincided with this deceleration of productivity, it's really obvious: We're still very scarred from the fallout from the Great Recession.feedback
Mar 14 2017
The key thing is that the asymmetry of risks of being wrong on this issue weighs in really strongly on the policy point of trying to boost growth more. If I'm wrong, and we're really locked in an era of low productivity ... we;ll get a couple years of inflation. But we've just had six years of below-target inflation, so it's really hard to see a downside in aggressively going for growth in the next couple of years.feedback
Mar 14 2017
There's a strong statistical relationship between real wage growth starting to pick up and businesses starting to get serious about investing in productivity enhancing technology. I find it ironic that on the one hand, you read the economic statistics about how slow productivity growth is and how weak capital investments is. Then at the same time, you'll read a lot of stories about how we should be worried about robots putting a lot of pressure on jobs. Those are diametrically opposed. You really have to pick one or the other to worry about.feedback
Nov 11 2016
You run the risk of using the money to provide a windfall to people who would have been building anyway.feedback
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