The US is not ready for the next recession. Here's why

Jan 18, 2018

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo - S1AETLQOGEAA

In the last three recessions, the Fed’s cumulative interest-rate cuts have been close to five full percentage points. Image: REUTERS/Rick Wilking

Barry Eichengreen

Professor of Economics and Political Science, University of California, Berkeley

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