The U.S. economy moved closer to deflation at the end of 2008; this was the first time in 40 years that deflation seemed a possibility.

Name: The U.S. economy moved closer to deflation at the end of 2008; this was the first time in 40 years that deflation seemed a possibility.
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This is true, as the U.S. economy experienced a drop in prices during the end of 2008 due to the global financial crisis. This was the first time since the 1960s that deflation seemed like a real possibility.

The US Economy Moved Closer to Deflation at the End of of 2008;