The New Mediocre - is this the future for our economy?
Michael Feroli, of JPMorgan economics has been way, way out in front of the story of a new structural slowdown for the U.S. Economy.
On Surveillance today, he reiterated his call for a sub-2% run-rate for America.
And then he dropped a bombshell.
Feroli suggests that without technological progress, America's demographics and subdued productivity will drive "normal" GDP growth even lower. And the pace of job creation in the coming years will fall to around 75,000.
JPMorgan Economist: Get Ready for the Economy to Produce Way Fewer Jobs in the Future
http://www.bloomberg.com/news/articles/2015-06-09/jpmorgan-economist-get-ready-for-the-economy-to-produce-way-fewer-jobs-in-the-future
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