Question

What happened to the

Answer 1

Answer:

The 1970s saw some of the highest rates of inflation in the United States in recent history, with interest rates rising in turn to nearly 20%. Central bank policy, the abandonment of the gold window, Keynesian economic policy, and market psychology all contributed to this decade of high inflation.

Answer 2

What happened to the US economy in the 1970s is that it was the result of both of long-term processes and unexpected shocks.