label the scenarios with the type of monetary policy lag represented in each. you are currently in a labeling module. turn off browse mode or quick nav, tab to items, space or enter to pick up, tab to move, space or enter to drop. despite numerous data trends suggesting a recession, the fomc waits until their monthly scheduled meeting to change the direction of current monetary policy. significant revisions to quarterly gdp data and monthly unemployment data delay the identification of the start of a recession. data on gdp is released quarterly, meaning that an economic downturn beginning in january may not be identified until more than three months later. once the federal reserve lowers interest rates, businesses and consumers are slow to increase borrowing as a result. answer bank
