What term describes reduced economic volatility noted by Bernanke?
The Great Dividend
Economic Silence
The Great Moderation
Fiscal Calm
Answer
The Great Moderation, a term coined by former Federal Reserve Chair Ben Bernanke, refers to the period from the mid-1980s to the late 2000s when the U.S. economy experienced relatively low and stable inflation, along with steady economic growth. This period of reduced economic volatility was characterized by a significant decline in the frequency and severity of recessions compared to previous decades.
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