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New Fed Chairwoman Janet Yellen has a great task ahead of her. How to combat the results of the Great Moderation, as it was called, that period of low inflation with moderate economic growth that prevailed from 1985 to 2007, according to Paul Krugman. But why, when lots of jobs were created, particularly the 22 million jobs created during Bill Clinton's presidency? It lulled policy makers into allowing the massive deregulation of financial markets for one, which led to the Great Recession.
|Janet Yellen's Nemesis--The Great Moderation|
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