US Economy Operated Above Potential, Labor Market Tighter Than Goods.
A new way to measure the gap between what the economy can produce and what it actually does was developed using a lot of different economic data. The study found that the U.S. economy was doing better than expected from the mid-1990s to 2008, and in late 2018, there were more jobs available than goods and services. This new method is based on real data and can help policymakers make better decisions.