One of the problems, according to Wessel, is that banks trust each other less, fearing that their colleagues may be tied to the subprime mortgage crisis.

NPR: Fed Rate Cut Expected; Could Bolster Lending

Mr. WESSEL: Productivity is how much stuff we make for each hour of work.

NPR: U.S. Productivity and Economic Forecasts

One of those observers is David Wessel of the Wall Street Journal, a regular guest on this program.

NPR: Senate Committee Holds Hearing on Treasury Nominee

David Wessel, what question is still on your mind?

NPR: Listeners' Money Questions Answered

From 2005 to 2010, it reduced its foreign workforce by 1, 000, while cutting 28, 000 jobs in the U.S. But Chief Jeffrey Immelt tells Wessel that the company is shifting business overseas not in search of cheap labor, but rather, because of a growing customer base in countries like Brazil and China.

FORBES: Jobs at Big U.S. Firms Move Overseas

Mr. WESSEL: The financial system is suffering the worst shock since the Great Depression.

NPR: Listeners' Money Questions Answered

Mr. WESSEL: Well, one way, is to let the tax cuts expire.

NPR: Senate Committee Holds Hearing on Treasury Nominee

To explain what productivity is and how quickly it is growing, we turn to David Wessel, Deputy Washington Bureau Chief for the Wall Street Journal.

NPR: U.S. Productivity and Economic Forecasts

Mr. WESSEL: The most interesting, and I think, dangerous, place for him to go is the budget deficit itself.

NPR: Senate Committee Holds Hearing on Treasury Nominee

Mr. WESSEL: If you're the chairman of the Fed, you have to think about what the speed limit is on the economy.

NPR: U.S. Productivity and Economic Forecasts