Surveillance: Slowing US Growth
Bloomberg Surveillance
00:00
The Fed's Fed Funds Rate
The long-term trajectory of the U.S. economy, I do see, as a real rate of under 2%. The business people listening here, the animal spirit of the country, overlay that, say, 2% real GDP or less on your inflation guest. Is this nominal GDP decline from the pandemic in place where we get a 4% top-line GDP? There's our 4% nominal GDP. And I do think that that's a realistic expectation without a significant growth in productivity. We're going to struggle to see areal rate of activity above 2% for quite some time.
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