What has happened in the economy of the United States over last three yaers(May 2006-April 2009)?

Running Head : UNITED STATES ECONOMY

United States Economy : Government and Federal Reserve

US economy

Over the last three last years , the Government and Federal Reserve have not been very successful in running the economy of the United States From the early 2000 , the recession has hit the economy badly and since then , the economy has been declining in terms of growth , employment balance of payment and prices . Though the US Government and the Federal Reserve have been making efforts to control the situation , yet very remarkable improvements have not been observed

p Prices

The home and oil prices have dropped considerably during this time period . The US home prices dipped at a record rate in the month of January . The home prices have dropped all over the nation about 30 of their value from their highest point in the year 2006 (Costa 2009 . The prices of oil had fallen steeply after it was shown in a U .S . government report that there was a rise in the crude supplies to a 15-year high (Oil Prices Fall as US Crude Supplies Hit 15- Year High 2009 . The prices of other consumer products have been rising and the overall inflation has also been increasing

Economic growth

The economic growth during 2006 to 2009 has also declined . Except for the losses of jobs and the increasing unemployment , the economy of the US has many other challenges to deal with . The flat wage rates , heavy family debt and lack of health insurance and pension are...