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Fed's Goolsbee: increase in productivity growth appears to be technology-driven

ReutersApr 23, 2025 1:38 PM

- Chicago Federal Reserve Bank President Austan Goolsbee on Wednesday said he believes the U.S. economy may be at the start of a technology-driven boom in productivity growth with potentially big implications for workers seeking to move from lower-income to higher-income jobs.

"I still believe that it is productivity growth that is the thing that made us rich, and that technological innovation will be the dynamo that powers economic mobility going forward," Goolsbee said at a conference on economic mobility at the Philadelphia Fed.

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