Deutsche Bank 5月25日长篇。
　　A key feature of our US economic forecast is a substantially greaterdecline in the unemployment rate than the Fed and consensus expect，resulting from a combination of weaker productivity growth and lowerlabor force participation than is commonly anticipated.The decline in theunemployment rate to near historically low levels eventually leads to anovershoot of the Fed＇s inflation target，which pushes the Fed to raise thefed funds rate above 3% by end-2019，if not sooner.