Maybe this time around, we will be lucky and markets will continue to rally despite a recession and despite any financial market crisis.
If ever there was a time for the Fed to be humble and nimble, it must be now.
The Fed’s aggressive pursuit of its narrow mandate is complicating an already difficult economic situation in the rest of the world.
The Fed risks producing a hard economic landing by failing to recognize the long lags with which monetary policy operates.
Troubles are coming to the world economy not as single spies but in battalions.
The Fed is putting itself on a substantial monetary policy tightening path at the very time that there are many indications of real trouble ahead.
It would be an understatement to say that the Federal Reserve has a poor forecasting record.
If our economy succumbs to a deep economic recession, inflation will become the least of our economic problems.
For the sake of both the Chinese and the global economy, let’s hope the Chinese economic authorities do not repeat the U.S. Lehman mistake.