The Great Recession and the Financial Crisis

The federal reserve was not as aggressive as it could have been in part because of the experience of the 19 seventies, that they were very nervous about bringing back that kind of inflation. And so it felt a lot like a lost decade due to timidity by the fed. A new generation of leadership, particular the current fed chair, j powell took a very different direction and started focusing, like monomaniacally, on trying to reduce unemployment.