Briefing
Al Broaddus, Productivity Growth and Monetary Policy in the 1990s
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.
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https://www.richmondfed.org/publications/research/economic_brief/2026/eb_26-15
Description: Briefing
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Bibliographic Information
Provider: Federal Reserve Bank of Richmond
Part of Series: Richmond Fed Economic Brief
Publication Date: 2026-05-13
Volume: 26
Issue: 15