Gain in Workforce Productivity and Hours Worked Could Explain Strong Growth With Modest Inflation

While Demand Is Exceeding Long-Term Expected Growth Rate, It Is Not Currently Exceeding Growth in Supply

Recent Developments Indicate Potential to Increase Labor-Force Participation

Productivity Growth Rebound Is Hard to Forecast, but Cyclical and Structural Forces Likely Are at Work

Recent Weakness in Business Investment Bears Attention if Productivity Gains Will Be Sustainable

Robust Labor Market and Inflation at Target Requires Careful Reading of Incoming Economic Data