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World Economy Stabilizes in Great Moderation 2.0

The global economy is rebooting for “Great Moderation 2.0.”

Barely five years after the worst financial turmoil and recession since the Great Depression, the U.S. and fellow advanced nations are showing a stability in output growth and hiring last witnessed in the two decades prior to the crisis, in an era dubbed the “Great Moderation.” The lull points to a worldwide economic expansion that will endure longer than most.