What is the great moderation?
Never mind. Google is my friend.
The Great Moderation
http://www.investopedia.com/terms/g/great-moderation.asp
According to the way the dots are connected it's everything from '90 on. The data came from 2010 so maybe they thot the Obama era was 'moderate' by believing some kind of recovery was in the pipeline.. They were mistaken (imho).