While productivity growth averaged 1.7% for all of last year, the best since 2010, efficiency gains have been lackluster in the current expansion. Subdued productivity has been a long-running topic of debate among economists. In an October 2019 speech, Federal Reserve Chairman Jerome Powell pointed out several possible reasons, including that the productivity slowdown may be overstated due to mism

central bankers are typically focused on short-term stabilization of aggregate demand through monetary policy more than on long-term

productivity boosting through structural policies. Why then, in your opinion, does Powell

want to know whether the productivity slowdown may be overstated due to mismeasurement issues?