Data presented in the following table suggests that January 2007 to December 2010 cannot be considered a period of "Great Moderation"; rather, this period is considered to belong to the "Great Recession." The table reports: 1. Quarterly values for changes in the gross domestic product. 2. Quarterly values for changes in the inflation rate (which we have calculated from the CPI values, assuming 1982-84 = 100). 3. Volatility index VIX's value at the end of each quarter during January 2007 to December 2010