2% Growth: The New US Normal or an Opportunity for More?
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Join The Chicago Council and professor Glenn Hubbard for a discussion on economic growth in today’s extraordinary times. Since the Great Recession ended, annual US economic growth in real terms has averaged 2.2%, a meager rate according to Glenn Hubbard. Economists disagree on the cause of this pace: has secular stagnation—a condition of negligible or no economic growth—created a new normal? Or, did macroeconomic policies enacted before and during the crisis slow growth? Hubbard, former economic advisor to President George W. Bush, believes the latter. According to him, America can grow faster through a focus on long-term issues, including tax and regulatory reform and free trade policies.Advance registration required.