What Real Growth Means For Inflation

If uh real growth rates start accelerating now uh we believe inflation will come down. Many people assume that growth means inflation. That's absolutely wrong.When real growth has picked up, inflation comes down mostly because of productivity gains. And as you know, we think that the productivity gains in this cycle are going to be outsized and sustainable. The convergence between and among those technologies we think is going to be highly deflationary.Deflationary in the good sense of the word word. When y ...