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Fed hopes for ‘soft landing’ for the US economy, but history suggests it won’t be able to prevent a recession

By Alex Domash, Research Fellow, Harvard Kennedy School
Lawrence H. Summers, Charles W. Eliot University Professor, Harvard Kennedy School

The Federal Reserve is expected to lift interest rates a half point at its next meeting and more in the coming months, but it may be too late to forestall an economic downturn.

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