Is there any ammo left for recession fighting?

A government’s arsenal for moderating business cycles consists of fiscal and monetary policy. But the U.S. has little scope for using either if a new recession should now emerge. The Fed has only limited options left for stimulating the economy. And political gridlock may prevent any timely injection of fiscal stimulus. How big are the risks we face, and are we really out of options? Fortunately, continued expansion is the central forecast for the U.S. economy today. Janet Yellen’s public assessments of the outlook are screened less for signs that the economy may need......(read more)

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