The reason for the surge in long-term bond rates since the summer is that inflation was faster than expected, but the U.S. economy was more resilient than expected. This began with the return of the Holy Grail of Economics, where the direct contradiction with the macro-story that a recession is necessary to lower inflation is “the result is productivity improvement.” Productivity combines resources in a much more efficient way, thereby driving economic growth without inflation. Economists who may be associated with higher equilibrium interest rates, as the economy does not rely on lower interest rates to grow, generally assume a 2% U.S. growth trend as productivity increases by about 1.5% and population growth is 0.5%. Non-agricultural productivity rose to 2.2 percent on September 30, double the pre-pandemic trend of 1.1 percent a yearPart of the rebound was the recovery of the global supply chain. However, this part has short sustainability because restoring the supply network does not continue to lower unit production costs.The real question is whether productivity can continue to improve. Determined that improvement could be sustained for two reasons 1) Labor market recovery and relationship. Record people have quit their jobs in recent years. Fortunately, recent workers whose exit rate has fallen to pre-pandemic levels to the extent that they can improve productivity in the short term due to lower recruitment and education costs can be paid longer because they can mean they are more suitable employers.Other side products in hot labor market has experienced the first economic slump in the first economic slump.Companies are increasing efficiency and efficiently designed to ensure that the needs of businesses, and the businesses that can be achieved in the need to be achieved by providing a business.If the past few years of investment has been found that the past few years, the potential for the future, the possibility of the current period of the past few years.The central bank must reduce inflation in danger of inflation through the risk of inflation, which is difficult to reduce the risk asset prices.The current high interest rates and stock prices are more effective, and stock prices are more optimistic to help you have more optimistic trends and share prices:https://www.ft.com/content/61b8574d-724c-4486-b6b0-21191c22d476Restoring Productivity in the U.S. Economy Restoring Productivity in the U.S. Economy Our global experts broaden your horizons with timely insights and opinions that you can’t find anywhere else. List of trackbacks to this article: Unlimited access only ₩ Try 1000 for 4 weeks.Subsequent ₩ 74,990/month New Custom…www.ft.comRestoring Productivity in the U.S. Economy Restoring Productivity in the U.S. Economy Our global experts broaden your horizons with timely insights and opinions that you can’t find anywhere else. List of trackbacks to this article: Unlimited access only ₩ Try 1000 for 4 weeks.Subsequent ₩ 74,990/month New Custom…www.ft.comRestoring Productivity in the U.S. Economy Restoring Productivity in the U.S. Economy Our global experts broaden your horizons with timely insights and opinions that you can’t find anywhere else. List of trackbacks to this article: Unlimited access only ₩ Try 1000 for 4 weeks.Subsequent ₩ 74,990/month New Custom…www.ft.com
