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What Kind of Landing: Soft or Hard?
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Robert L. Hetzel
 
In the past, the Federal Open Market Committee (FOMC) has reduced inflation through contractionary monetary policy—but only at the cost of recession. Recent comments from its members suggest the FOMC does not possess a strategy that would avoid a similar outcome for the economy. In “What Kind of Landing: Soft or Hard?” Robert L. Hetzel suggests a strategy for returning to price stability in a way that can also reduce the risk of a serious recession.
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