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 and
- What four policy reforms might mute the adverse effects of the inevitable downturn.
About the Author
John H. Makin is a resident scholar at the American Enterprise Institute.