Fiscal cliff refers to a collection of measures introduced by the U.S government in 2013 in order to reign in the U.S debt ceiling. The term was coined by Ben Bernanke, the Chairman of the Federal Reserve. The measures involve tax rises and public spending cuts aimed to reduce the government’s deficit. These measures are however also widely predicted to bring in a mild recession with inevitable knock-on effects of higher unemployment and reduced economic activity.
Home Fiscal Cliff
- Advertisement -