In Brief: Squaring The A.I., Productivity, Rates Circle

Scarcely a day goes by when you don't hear something about the potential for A.I. to usher in a productivity boom. Overblown or not, it's a nice thought. Particularly to the extent it'd be disinflationary at a time when some of the structural factors that contributed to decades of subdued price growth across the developed world are seemingly lost to the post-pandemic, wartime reality. At the same time, another macro topic du jour -- the r-star debate -- revolves in part around the idea that a