Pierre-Daniel G. Sarte

Aug 6, 2024 | richmondfed.org | Erin Henry |Pierre-Daniel G. Sarte |Jack Taylor

Economic Brief August 2024, No. 24-25 Key Takeaways Advancements in technology and automation continue to fail to materialize in the productivity statistics well into the 21st century. The age composition of the workforce seems to matter more for productivity growth than the latest technology does. Given the current demographics of the workforce, it appears that AI will have a small effect on productivity growth.

Aug 7, 2023 | richmondfed.org | Conner Mulloy |Pierre-Daniel G. Sarte |Erin Henry

August 2023, No. 23-26 Since the Federal Open Market Committee began raising the federal funds rate in March 2022, people have speculated on the trajectory of both monetary policy and the economy. By looking at previous rate cycles, this article compares historical monetary policy cycles with the current period. We find the current cycle to be unique in terms of both the speed at which interest rates rose and the movement of inflation during the series of rate hikes.