U.S. labor supply has not yet gotten back to its pre-pandemic projected path but labor demand remains strong. The result is a smaller but hot labor market. In this analysis, Lauren Bauer, Aidan Creeron, Wendy Edelberg, and Sara Estep identify populations and policies that could contribute to gains in labor force participation.
The pandemic and the associated policy responses have generated large federal budget deficits in recent years, adding to already high levels of national debt. Alan Auerbach and William Gale explain that the budget effects will largely be short-term, but as fiscal parameters return to their pre-COVID trajectories (which were already unsustainable) and the debt grows ever larger, the government will need to take action.
The risk of artificial intelligence (AI) algorithms making unreliable, unfair, or exclusionary predictions is a major concern for the financial services sector. Melissa Koide assesses tools designed to analyze whether machine learning credit underwriting models satisfy reliability, fairness, and transparency objectives. The findings suggest that while these technologies hold promise, thoughtful human oversight is critical.
What to know about the bipartisan infrastructure bill. The Infrastructure Investment and Jobs Act, also known as the bipartisan infrastructure bill, will increase federal spending on infrastructure by about $550 billion over the next decade. Experts at a recent Hutchins Center event answered questions about the new law.
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