In Search of Growth in U.S. Real GDP

The video discusses the historical and current trends in real GDP, highlighting the challenges faced in achieving economic growth. It critiques the consensus view that quantitative easing and Federal Reserve actions will spur economic acceleration, noting that this has not been effective over the past seven years. The discussion emphasizes the need for structural reforms, such as tax changes and labor market flexibility, to improve GDP growth, suggesting that political leadership is crucial in implementing these changes.

What has been the consensus regarding the economy, according to the speaker?

How does the speaker view the effectiveness of quantitative easing and fed action?