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US economy may be hurtling towards rough times
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It is clear that US central bank policymakers recognise that there is a good chance of a sharp slowdown soon.
PHOTO: REUTERS
Jeff Sommer
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Recession has become a nasty word. US Federal Reserve officials dance around it with euphemisms like “a soft landing” or its dreaded alternative, “a hard landing”.
Look beneath the hood of Fed forecasts, though, and it’s clear that policymakers at the central bank recognise that there is a good chance of a sharp slowdown soon. Their own policies are at least partly responsible for making that happen.
