Yellen focused on productivity gains

“Ongoing gains in the labor market have been accompanied by a further moderate expansion in economic activity. US real GDP is estimated to have risen 1.9 percent last year, the same as in 2015,” Federal Reserve (Fed) Chair Janet Yellen told the US Senate Committee on Banking, Housing, and Urban Affairs. More importantly, Yellen put forward the need for the global economy to tackle productivity and how to foster it.