158 Years Signal U.S. Expansion to Last Until Yellen Stops It
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The next U.S. recession will be stamped “Made in America” and it’s not looking imminent.
There have been 33 recessions in the U.S. since the late 1850s and all but five followed increases in short-term interest rates. After the Federal Reserve was created in 1913 only the slump of 1945 amid the post-World War II demobilization occurred without a tightening of monetary policy beforehand.