However, this economy was not "Goldilocks" for everyone. Michael Hudson argues that the positive connotations associated with the "Goldilocks economy" and the "Great Moderation" are because these terms were coined by bankers, who saw their loans soar along with their bonuses during this period. Goldilocks economy is primarily used to describe the economic indicators of the Great Moderation: stable GDP growth, industrial production, monthly payroll employment, unemployment rate, real wages and consumer prices. The phrase was popularized and reformulated by Salomon Brothers' chief equity strategist David Shulman with his March 1992 report "The Goldilocks Economy: Keeping the Dears at Bay." It gained wider use after 1988 following an April column by Dan Andriacco of Scripps-Howard, and a November The New York Times article quoting Richard B. The phrase was picked up in a few other publications shortly thereafter. Duesenberry of the Council of Economic Advisers. It appeared in print again, in The Washington Post, on January 8, 1967, attributed to James S. government official in a Decemarticle in The Wall Street Journal.
The first use of this phrase was by an unnamed U.S. The name comes from the children's story Goldilocks and The Three Bears. A Goldilocks economy is an economy that is not too hot or cold, in other words sustains moderate economic growth, and that has low inflation, which allows a market-friendly monetary policy.
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