Pimco's Crescenzi Breaks Down U.S. Productivity Numbers

The video discusses the slow growth in productivity over the past five years, highlighting the importance of understanding the difference between inflation and growth. It explores factors affecting growth, such as the aging population and declining labor force participation. The need for increased investment in capital, like plants and equipment, is emphasized as crucial for future growth. Optimism in the stock market and potential government spending on infrastructure are discussed as positive influences. The role of technology in improving efficiency and its impact on productivity and interest rates is also examined.

What has been the trend in output per hour growth over the last five years?

According to the text, what are the two main sources of growth discussed?

What impact does the aging population have on the labor force?

How does capital investment relate to productivity according to the discussion?

What did Janet Yellen suggest about the relationship between productivity and interest rates?