The impacts of the recession contributed in part to the 1992 US. The early 1990s recession describes the period of economic downturn affecting much of the Western world in the early 1990s.
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BushThe recession also included the resignation of Canadian prime minister Brian Mulroney the.
. Presidential election victory of Bill Clinton over incumbent president George H. This raises the risk of stagflation with potentially harmful. The recession happened because of the unwinding of the excesses of the 1980s the international recession of the early 1990s and the high interest rates.
Compounding the damage from the COVID-19 pandemic the Russian invasion of Ukraine has magnified the slowdown in the global economy which is entering what could become a protracted period of feeble growth and elevated inflation according to the World Banks latest Global Economic Prospects report. High interest rates were employed to slow the asset price boom of 198889. Treasurer Keating the Reserve Bank and Treasury itself generally agreed on the need for high interest rates in 1989 and the pace of their reduction.
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