This relationship has weakened since 2000, particularly in the high-tech sector.12 High productivity firms are not growing as quickly, and low productivity firms are shrinking or exiting at a slower pace. It may be that some government policies, while well intended, have contributed to these trends.
4 Under the most recent articulation of that framework, in considering when to reduce purchases, the Committee will “assess whether incoming information continues to support [its] expectation of ongoing improvement in labor market conditions and inflation moving back  1  The Committee also noted: "In determining the size, pace, and composition of its asset purchases, the Committee will, as always, take appropriate account of the likely efficacy and costs of such purchases."