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Robots? Training? Factories Tackle the Productivity Puzzle

For now, the Fed appears to be sticking with the standard approach of gradually raising rates to ward off inflation. But the United States may be about to run an experiment on the effects of a high-pressure economy whether Mr. Powell wants to or not. The combination of tax cuts and government spending increases are adding fuel to an economy already burning hot. The Fed’s most recent projections estimate that the unemployment rate will fall to 3.5 percent next year.If that happens, the beneficiaries could be people like Mike Steffel. Mr. Steffel, 39, grew up near here and never went to college, instead finding work in various…

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