11. Chapter Mic, heetion 06, Problema 063 Recession, inflation, and high interest rates are economic events that are best characterized as being a. irrelevant except to govermmental authorities like the Federal Reserve. 3. systematic risk factors that can be diversified away. c. among the factors that are responsible for market risk. 4. risks that are beyond the control of investors and thus should not be considered by security analysts or portfolio managers. e. company-specific risk factors that can be diversified away