By Reid, Jenni

Aug 24, 2022 – CNBC

·Edmund S. Phelps said the U.S. needs to get productivity growth on the kind of level is was in the 50s and 60s.

·The Nobel Prize winner said it was “really important for people’s morale that they come home from time to time with better paychecks than they had before”.

·He also said the Federal Reserve needed to signal a greater willingness to continue to act aggressively to combat inflation.