But real incomes should increase even for workers whose compensation is not  4  BIS Review 54/2001  directly linked to company performance, as profitable business opportunities bolster the demand for scarce labor. Conclusion Obviously the history of the productivity surprise in the United States is a long and complex one. Indeed, it is premature to write the entire story.
But, the role of the Federal Reserve in this saga will continue unchanged. We have been given the responsibility to provide the monetary conditions that will promote the maximum sustainable growth in output. We will continue to perform that duty. BIS Review 54/2001  5