“I would focus on policies that affect the pace of technological change,” Yellen said. (AP Photo/Pablo Martinez Monsivais)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
It would be "quite challenging" for the United States to reach the 3 percent growth target set by President Donald Trump, Federal Reserve Chair Janet Yellen told a Senate panel on Thursday in a hearing focused on regulatory reform and a discussion of lagging productivity.The Fed, the Congressional Budget Office and others feel that an aging population and lagging productivity mean the economy's potential has downshifted to around 2 percent growth or less – a fact that has profound effects on national wealth as the slower pace compounds over time.Growth in productivity and growth in the number of workers are key components of growth overall, and both are now moving slowly.
FOLLOW THIS ARTICLE