Rather than accelerating to return to the trend growth rate, the economy has actually grown at a slower average pace after the recession ended than it did before the recession began. This is anomalous because one would have anticipated an especially brisk recovery to match the size of the contraction. For the first time in
economic history, the depth of the contraction and the strength of the recovery have been asymmetric, causing the economy to fall well below the level consistent with its long-run trend. U.S.