America fact of the day

The manufacturing sector is now operating at 77.8 percent of its capacity, according to Federal Reserve data, well above the 76 percent average during the last expansion and not far from the 79.1 percent peak during the mid-2000s.

That is from Neil Irwin.  As I’ve been saying for over a year, we are no longer at the point where boosting nominal demand will help very much if at all.

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