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Recession can lead to lower inflation and reduced interest rates, making borrowing cheaper for consumers and businesses, which can stimulate future economic growth. However, it also results in higher unemployment, decreased consumer spending, and business bankruptcies, creating financial hardship for many individuals and families. Additionally, government revenues may decline, leading to cuts in public services and investment. Overall, while a recession can reset certain economic imbalances, its immediate effects are often detrimental.
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