Labor Market May Have More Slack Than Previously Expected

Points to Positive Forces That Could Restrain Inflation, Including Productivity Growth Upturn

Increased Business Investment Could Stem From Tax Cuts

Capital Spending Upturn Not 'Just an Oil Patch Story'

Possible Pickup in Trend Productivity Growth 'Deserves Close Monitoring'

Some Might See Wage Gains as Leading to Inflationary Pressures

Last Two Expansions Didn't See Wage Gains Yield a 'Material Rise' in Price Inflation

Benchmark Interest Rate Still Below Estimates of Long-Run Level