It takes a lot to kill an economic expansion, often a credit crisis during periods of Fed tightening that escalates into a credit crunch and a recession. The latest tightening has ended, and that didn’t happen. Now the latest batch of strong economic data should finally lay to rest the diehard hard-landers’ recession warnings. It should also cast doubt on whether the Fed needed to ease at all on September 18. Ed and Eric think not and predict that the Fed won’t cut the federal funds rate further this year. Dr Ed offers 12 reasons that “none-and-done” would be the Fed’s most prudent and plausible policy path for the remainder of the year.
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