The Real Economy: Volume 70
In the long run, U.S. needs a productivity miracle
THE REAL ECONOMY |
The Congressional Budget Office recently published its long-term budget outlook for 2020. Not surprisingly, its forecast of a 107% debt-to-GDP ratio in 2023, rising to 195% in 2050, garnered all of the attention.
But beneath that headline are significant policy challenges facing the U.S. economy. Because of demographic and structural changes to the economy, long-term growth has slowed noticeably. Once one looks at the baseline assumption, it’s clear the United States is going to need a productivity miracle.
In this issue, we examine U.S. productivity trends and challenges, monetary policy, money velocity, the presidential election and health care, as well as middle market capital expenditure views. Download the full report.
IN THIS ISSUE
The Congressional Budget Office published its long-term budget outlook. Its forecast of debt-to-GDP ratio garnered all of the attention.
The Federal Reserve is embarking on a new era in monetary policy, switching from a target of 2% inflation to a target range of 1% to 3%.
Over the past three decades, the velocity of money has generally declined as the Fed has imposed disinflationary policies.
With the future of health care riding on the outcome of the November elections, RSM analyzed what lies ahead for businesses in the sector.
Only 38% of middle market executives noted an increase in capital expenditures in their businesses in a recent MMBI report.