Editing Deflation (section)

====Minor deflations in the United States====
Throughout the history of the United States, inflation has approached zero and dipped below for short periods of time. This was quite common in the 19th century, and in the 20th century until the permanent abandonment of the gold standard for the [[Bretton Woods system]] in 1948. In the past 60 years, the United States has experienced deflation only two times; in 2009 with the Great Recession and in 2015, when the CPI barely broke below 0% at −0.1%.<ref>{{cite news |first=Yuval |last=Rosenberg |title=America Is In Deflation. So What? |work=The Fiscal Times |date=26 February 2015 |url=http://www.thefiscaltimes.com/2015/02/26/America-Deflation-So-What}}</ref>

Some economists believe the United States may have experienced deflation as part of the [[2008 financial crisis]]; compare the theory of [[debt deflation]]. Consumer prices dropped 1 percent in October 2008. This was the largest one-month fall in prices in the U.S. since at least 1947. That record was again broken in November 2008 with a 1.7% decline. In response, the [[Federal Reserve]] decided to continue cutting interest rates, down to a near-zero range as of December 16, 2008.<ref>{{cite press release |title=FOMC statement |publisher=Board of Governors of the Federal Reserve System |date=16 December 2008 |url=http://www.federalreserve.gov/newsevents/press/monetary/20081216b.htm}}</ref>

In late 2008 and early 2009, some economists feared the U.S. would enter a deflationary spiral. Economist [[Nouriel Roubini]] predicted that the United States would enter a deflationary recession, and coined the term "stag-deflation" to describe it.<ref>{{cite web |title=Get Ready For 'Stag-Deflation' |first=Nouriel |last=Roubini |date=30 October 2008 |work=Forbes |url=https://www.forbes.com/2008/10/29/stagnation-recession-deflation-oped-cx_nr_1030roubini.html}}</ref> It was the opposite of [[stagflation]], which was the main fear during the spring and summer of 2008. The United States then began experiencing measurable deflation, steadily decreasing from the first measured deflation of −0.38% in March, to July's deflation rate of −2.10%. On the wage front, in October 2009, the state of [[Colorado]] announced that its state [[minimum wage]], which was indexed to inflation, was set to be cut, which would be the first time a state had cut its minimum wage since 1938.<ref>{{cite news |url=http://www.denverpost.com/headlines/ci_13547177 |title=Colorado minimum wage set to fall |first=Aldo |last=Svaldi |work=[[The Denver Post]] |date=13 October 2009}}</ref>