Nov. 19, 2023 8:30 am ET
Federal Reserve Chair Jerome Powell signaled an important shift this month when he said the central bank didn’t necessarily have to worry about stronger growth feeding through to higher prices.
The reason: The U.S. economy’s speed limit, known as potential growth, appears to have temporarily moved up thanks to easing bottlenecks and a boost in the number of people available to work and, possibly, in productivity, or the output that each worker produces.
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