Address whether the Fed and Alan Greenspan kept interest rates too low for too long following the 2001 recession according to two rules: The original Taylor Rule and the Mankiw Rule
Data Table and additional sub problems in the attached.
Use the table below to answer the following questions.
FF – the federal funds rate
PCE INF = PCE inflation
PCE CORE = the core rate of PCE inflation
GDP = real GDP
GDP POT = potential (real) GDP
UR = the unemployment rate