Fitch Ratings released a report entitle Mapping a Subpar Economic Recovery: What Can History Tell Us? that details the differences in historical economic recovery and growth. They analyzed various recoveries in countries like Germany, U.S., U.K, and Japan and found similar trends that define these recoveries. Many of the eras of recovery saw the wealth effect, lower inflation and interest rates, higher government spending, new technology, changing consumer preferences, global competitiveness, trading relationships and currency effects. Today’s recovery has some unique differences that challenge basic economic assumptions. Interest rates are at historic lows and have been for some time. It is not believed that continued low interest rates will add much more to the economy. The same can be said of the stimulus policy. Each of these naturally has an influence on growth but can become increasingly burdensome after their initial shock impact. Exports often rise during a r
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