How Many Recessions Have You Lived Through?
It’s still likely one is coming, and younger generations have less experience investing during them than in the past. Plus: Silvio Berlusconi and AC Milan remade soccer.
Frequency of recessions was a character-building experience in the 1970s.
Photographer: Walter Leporati/Getty
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The People’s Bank of China has cut rates for the first time in a year, and the week is still young. Prepare for two big moments of truth: Tuesday’s inflation report and Wednesday’s Federal Reserve rate-hike decision. The first will factor into the second, but there’s little point in speculating on that before the data are known. Two such events happening one day apart are keeping markets on edge. The fact that they come just as the PBOC has fulfilled hopes that China’s slow reopening will mean more liquidity for everyone (news that came just before we pressed “send”) makes life even more interesting.