Recession's Scars Unlikely to Fade Soon
Since the recovery has been categorized as anemic and the most recent recession as quite deep, will its structural changes -- scars, if you will -- bedevil the economy for years to come? Or are the problems cyclical? If that is the case, they might benefit from further monetary or fiscal stimulus. Recently, the San Francisco Fed sought input on this matter during a conference in which a number of economists weighed in on the matter.
Some issues include the savings rate and access to credit. The two are related, as consumers may prefer not to borrow and instead desire to save, and lenders may prefer not to lend the same way they did before the crisis. There is a structural component to this factor that could impede economic growth for quite some time....380 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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