A post by @federalreserve on X.
Speech by Vice Chair Jefferson on new technology, old questions: assessing productivity puzzles and their implications for macroeconomic activity @UCSDEcon:
@federalreserve on X
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The remarks, announced via the Fed’s official account, frame the productivity puzzle as central to how new technology feeds through to macroeconomic activity. The speech carries weight because productivity trends shape the Fed’s views on potential growth, inflation pressure and the sustainable pace of the economy. No specific figures or policy signals were included in the announcement itself. Watch for the full speech text for Jefferson’s assessment of whether AI and other emerging technologies can lift measured productivity, and what that would mean for the policy outlook.
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Federal Reserve, Vice Chair Jefferson, UCSD Economics