For the Fed's Consideration, Higher Productivity Growth

Neil Irwin had a good piece discussing the slower job growth reported for February, along with more rapid wage growth. He argued that as a result of recent evidence of slowing growth (not so much from this jobs report) the Fed may be inclined to leave interest rates where they are, or possible even lower them. However the pick up in wage growth may lead the Fed to worry about inflation and therefore raise interest rates.

While Irwin notes the pick up is modest, so it's not obvious it will lea...