Not exact matches
That framework's been in place since the early 1990s, we have hit the target
over that 20 year
period, the
average inflation rate's pretty close to 2.5 per cent, so we regard that as successful by the terms of the definition that we set ourselves and I think that's made a big contribution to economic stability more generally and I don't think it's an accident that that
period of fairly low predictable inflation has coincided with pretty good
sustained growth in the economy.
Finally, if we assume a
sustained explosion in productivity growth to 2.8 % annually, joining the highest quintile of historical U.S. productivity growth rates for any 8 - year
period, and assuming an unemployment rate of just 4 % in 2024, the result would still be real U.S. GDP growth
averaging just 3.2 % annually
over the next 8 years.
But the study looked at departures from
average conditions
over shorter time
periods, and may not be a good indicator of how people will respond to
sustained warming.
The analysis found, somewhat surprisingly, that only proceeding with lower cost, less carbon - intensive projects needed to satisfy demand in a carbon - constrained world will add
over $ 100 billion to the value of the world's seven oil majors, unless oil prices spike beyond $ 100 a barrel for a
sustained period of time — well
over OPEC's long - term
average assumption of around $ 80 a barrel.