U.S.: It's Productivity To The Rescue!

Superstrong gains rule out higher interest rates anytime soon

Nothing warms the heart of Federal Reserve Chairman Alan Greenspan like a good productivity report--especially the latest one, showing a stunning 5.3% growth rate for the second quarter. The data strongly support his view that a new era of technology-driven productivity gains is blunting inflation, even as the economy expands vigorously.

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