Soft Patch
A period of economic slowdown amid a larger trend of economic growth. The term is most often used in the financial media and by the U.S. Federal Reserve to describe a period of economic weakness.

Investopedia Says:
This term gained popularity when former Federsal Reserve Board Chairman Alan Greenspan used it in his review of the overall U.S. economy. An example of a soft patch would be an economic slowdown due to rising oil prices, believed to be short term, with the economy growing at a faster rate after the slow patch.

Related Terms:
Alan Greenspan
Economic Growth
Expansion
Federal Reserve Board - FRB
Federal Reserve System
Financial Porn
Recession

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