The intensity of Fed rate hikes as a precursor to recessions
The intensity of Fed rate hikes as a precursor to recessions Between 1931 and the mid-1950s, the yield curve never inverted, and yet there were 5 recessions (1938, 1945, 1948, 1950, and 1954). In particular, the 1938 “recession within the depression” was one of the worst of the 20th century. So in a low inflation […]