15  For details on the potential growth rate of the economy, see Dave Reifschneider, William Wascher, and David Wilcox (2013), “Aggregate Supply in the United States: Recent Developments and Implications for the Conduct of Monetary Policy,” Finance and Economics Discussion Series 2013–77 (Washington: Board of Governors of the Federal Reserve System, November).
6  BIS central bankers’ speeches  been had we experienced a period of rapid growth during the recovery. Remember that, just a few years ago, many forecasters – in and out of the Federal Reserve – were projecting growth rates at an annualized rate of 4 percent or greater for at least a year.