Alan Greenspan and Ben Bernanke, former chairmen of the Fed's Board of Governors, believe that the low interest rates of 2003-2014 were primarily the result of
A) a worldwide savings glut generated by the rapid growth of high-saving Asian economies and the revenue growth of oil producers because of high oil prices during this era.
B) the inflationary monetary policies of the federal reserve and other central banks.
C) the large budget deficits and growth of government debt as a share of Western economies.
D) the rapid growth of stock prices and the high level of savings during this era.
Correct Answer:
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