By Andrew Moran The Federal Reserve left interest rates unchanged at their highest levels in 23 years as monetary policymakers have observed “a lack of further progress” toward the central bank’s 2 percent inflation target. Fed officials noted that the risks to accomplishing its dual mandate of maximum employment and price stability have shifted to […]
Tag: Economic Depression
An economic depression is a period of sustained, long-term downturn in economic activity in one or more economies. It is a more severe economic downturn than a recession, which is a slowdown in economic activity over the course of a normal business cycle.