Powell, Jerome H. (2018). “Opening Remarks: Monetary Policy in a Changing Economy.” In Federal Reserve Bank of Kansas City, ed., Changing Market Structure and Implications for Monetary Policy: A Symposium Sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyo., August 23–25. Kansas City, Mo. : FRB Kansas City, pp. 1– 18, https://www.kansascityfed.org/~/media/files/publicat/sympos/2018/powell2018.pdf ?la=en. ——— (2019).
For instance, the Philadelphia Fed’s first-quarter Survey of Professional Forecasters reported average estimates of real GDP growing 2.3 percent in 2012 and 2.7 percent in 2013. Business spending, especially investment in equipment and software, remained relatively healthy last year, buoyed by solid growth in corporate earnings.