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Recession was inevitable, economists said. Here’s why they were wrong.

Por: MarketWatch Politics January 22, 2024

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Most recession predictions were based on the reasonable assumption that the U.S. Federal Reserve would do whatever was necessary to bring inflation down to the central bank’s 2% target level. During the Fed’s great war on inflation that began in 1979, Fed Chair Paul Volcker was asked if the tight money policies would cause a recession. He answered immediately, “Yes, and the sooner the better.” In another conversation in 1980, Volcker... + full article



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