Al Broaddus, Productivity Growth and Monetary Policy in the 1990s

Alexander Wolman

Richmond Fed Economic Brief, 2026, vol. 26, issue 15

Abstract: Former Richmond Fed President Al Broaddus made important contributions to FOMC discussions in the late 1990s. Broaddus argued that a sustained increase in productivity growth required an increase in real interest rates. With the possibility that artificial intelligence may raise trend productivity growth, this history from the late 1990s has renewed relevance today.

Keywords: Economic Growth; Monetary Policy (search for similar items in EconPapers)
Date: 2026
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