Speak in Washington at the International Institute Finance annual meeting
- Jobless rate close to natural rate
- Economy has been remarkably successful in reducing a joblessness
- He expects productivity to improve at some point. Not clear how strong the recovery will be.
- Growth is not close to what we used to view as normal
- Rise in unemployment and participation rates is still fine
- investment is low partly because of the declines in the energy sector
- Firms are sitting on cash because of uncertainty about the overall economic outlook
- People are excited about growth prospects
- Measurement problems cannot account fully for low productivity growth
