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Recession
Although the U. ... A recession is defined as a 6+ month period of growth that is significantly below trend. As represented by the business cycle, a recession begins just after the economy reaches a peak of activity and ends when the economy reaches a trough. By general agreement, the official determination of a recession in the United States economy is made by the Business Cycle Data Committee at the National Bureau of Economic Research (NBER). ... When we move into a recession, demand for consumer goods and services decline. ... Some economists believe that periods of recession are a necessary evil as they enable the economy to adjust to change. ... Congress and the President use these policies to help pull the economy out of a recession by decreasing taxes and increasing government spending and the investment tax credit. ...
The Federal Reserve System has the ability to use monetary policies, which involve manipulating the country’s money supply, in order to curb recession. ... This marked the end of the recession in November 2001. Although the recession was technically over, the NBER advised the country that this did not mean that the economy’s bad times were over.
Throughout this recent recession and recovery period, consumer spending and borrowing remained strong. ...
Corporate America has not fared as well as consumers since the recession. ... 5% in the 6 quarters after the current recession. ... economy’s latest recession was regarded as being relatively mild (even though we are still suffering from its effects).
Approximate Word count = 1147
Approximate Pages = 4.6
(250 words per page double spaced)
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