Federal Reserve Bank of Boston | bostonfed.org |
Bank Administration, 7 January 2020
Conclusion on the Two Economies
▶ There are risks to the overall economy
▶ But at present, we're doing ok
▶ There are significant long-run risks to the economy
that lies beneath the glossy surface
▶ Key challenges to address over the next 5-25 years
▶ Education matters
▶ Access to workforce supports matter
▶ Workplace norms matter
▶ Distribution of income and wealth matters
▶ These are first-order problems to solve
▶ If we don't, we lose a tremendous amount of potential,
human and economic
"The Invisible Hand was Nowhere to Be Seen"
- Jagdish Bhagwati
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