Productivity: Key to the Economic Future.(Michael H. Moskow addresses the Economic Club of Indianapolis)(Statistical Data Included)

Executive Speeches, June, 2001 by Moskow, Michael H.

Hello. Good to be here in Indianapolis. Part of my job as President of the Chicago Fed is to speak to business and community leaders around the Midwest about the state of the economy. Most audiences are interested in hearing from me about one thing, and one thing only: interest rates. Instead, I'm here to tell you there's more to the economy's future than interest rates.

The key to that economic future? Productivity. Productivity growth is the crucial development behind the remarkably good performance of the U.S. economy over the last several years--and productivity growth will determine the health of the economy in the years to come.

We at the Federal Reserve cannot directly increase America's productivity. Rather, it's your creativity and...

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