Go to the St. Louis Federal Reserve FRED database, and calculate the GDP growth rate and inflation
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Go to the St. Louis Federal Reserve FRED database, and calculate the GDP growth rate and inflation rate. For GDP, use (GDPC1). For the inflation rate, use the personal consumption expenditure price index (PCECTPI). For each series, change the units to Percent Change from Year Ago and download using data since 2000 Q1. Note that quarters in which the US was officially in a recession are 2001 Q2 to 2001 Q4, and 2008 Q1 to 2009 Q2.
a) Which period had the highest inflation rate? The lowest inflation rate? When, if at all, did deflation occur?
b) Which period had the highest growth rate of GDP? The lowest growth rate of GDP?
c) What relationship, if any, is there among GDP growth, the inflation rate, and recessions?
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