Although spending on many services continues to lag, the rebound in the GDP data has been broad based across indicators of goods consumption, housing, and investment. These components of aggregate demand have benefited from robust fiscal  The views expressed are my own and not necessarily those of other Federal Reserve Board members or Federal Open Market Committee participants.
This serves to inform international policy discussions and, more importantly, to support various Central Bank teams for risk analysis and supervisory purposes (Moloney and Murphy 2016).