The range of topics that will be covered over the next day and a half is impressive. The first research session this afternoon will focus on the role of community banks in our financial and economic system.
This was implicit both in the marked rise in investments in high-tech equipment and in the updrift in estimates of the growth of long-term earnings by corporate management, which were reflected in the projections of securities analysts. Nevertheless, we could not be certain whether what we were observing was a short burst of productivity gains or a more sustained pickup in productivity growth.