10  -9We need policies that support innovation and create a favorable environment for investment in both the skills of workers and the tools they have. Indeed, the recent tax reforms were designed in part to boost capital investment and thus productivity. Once again, my goal tonight is to highlight the importance of growth-enhancing policies.
Because these policies are not the province of the Fed, I will not advocate for particular approaches. Instead, I will just observe that researchers and policy analysts have proposed many promising ideas that may be capable of attracting wide support. Policies that succeed in enhancing productivity growth would greatly benefit future generations of Americans.