Secular Growth, Not Stagnation

Perhaps this time will prove different. But long historical experience suggests that for the United States, average growth between 3 percent and 3.25 percent per year will remain the norm. And given the amount of resource underutilization that remains pervasive throughout the economy today, near-term growth rates well above that long-term average remain clear possibilities. Our best days lie ahead, just as they always have.

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