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THE BOTTOM LINE

1937-38 recession a lesson for the Fed

Friday, March 27, 2015 - 05:50

Washington

HOW fast should the Federal Reserve tighten monetary policy? Should it tighten at all? I recently wrote about these issues, but didn't have the space to explore a fascinating aspect of the debate: The mostly forgotten 1937-38 recession. To many, it's a cautionary tale against