Economic indicators and history point to recession in early 2014.
The Fed has been lucky twice, but fortune won’t smile a third time. Recession will recur in 2014 with tax and benefit cuts the only way out. These oft-repeated neo-conservative maxims will most likely not lead the Fed to change its policy. Economist John Makin asserts that the financial sector should undergo deregulation and – post-Lehman collapse – that offends many. Still, getAbstract recommends Makin’s thoughtful take on business cycles.
In this summary, you will learn
- Why the US economy will dip into recession early in 2014
- How the US is returning to a more normal business cycle pattern
- What four policy reforms might mute the adverse effects of the inevitable downturn
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