This is for the Dallas Fed article. Dallas Fed The U.S. will struggle to accelerate growth from the current pace unless its government invests in infrastructure, manages immigration policy and improves education, said Robert Kaplan, president of the Federal Reserve Bank of Dallas. “[At the] Fed, we’re worried about GDP and employment,” said Mr. Kaplan, speaking at a moderated forum with executives from Burlington Northern Santa Fe and Kimberly-Clark Corp. at the University of Texas at Arlington. “People are rightly saying one-and-three-quarters-percent, 2-percent growth is very disappointing…we must be doing something wrong. Until you look at demographic trends…the labor participation rate is steadily declining. In the next 10 years, unless we do something, it’ll be declining further.” “The labor force is shrinking as a percentage of the population, and that’s reducing potential GDP. One huge challenge is how do we pay for medical [and other] benefits of that retiring group when there’s a shrinking percentage of people paying for it and the number of people receiving it is going up.” Mr. Kaplan said the U.S. could overcome these challenges, as long as policy makers take action to address structural problems in the economy. “I’m optimistic, if we don’t just, for lack of better word, crawl up into a fetal position and do nothing,” said Mr. Kaplan, citing current “gridlock” among legislators as a danger. “I’m optimistic if we invest in infrastructure, invest in education and improve education; if we have oversight of immigration policy, because we need population growth.” “We cannot any more just plod along as we have done.” “Monetary policy was never designed to act in isolation or by itself,” Mr. Kaplan said. “In the last seven, eight years, we’ve had predominantly monetary policy…we shouldn’t fool ourselves. [For these issues], we need broad participation, fiscal policy, government action.” Per the article, Mr. Kaplan is endorsing _________________________ for the economy.单项选择题
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