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Labor productivity has faced headwinds since the late 2010s, particularly in manufacturing. High costs are the driver. High-costs and low-value added is not a business model.
Slowing inflation. Moderate employment. The Fed is at a decision point. Stay tuned.
Inflation moderates and growth continues. Political uncertainty could upset the trajectory.
Demographics and debt in China conspire to the limit future growth. Other countries will need to lead.
