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THE PAST WON'T BE PROLOGUE IN THIS RECOVERY

机译:过去的这次恢复不会成为序幕

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摘要

For forecasters, the differences in business cycles are always more illuminating than the similarities. That's especially true right now, as the economy shows nascent signs of turning around. In past downturns, sectors toppled like dominoes. First, housing collapsed, then consumers stopped spending. Later on, companies cut capital spending. And inflation fears made the Federal Reserve a bit tardy in cutting interest rates.
机译:对于预测者而言,商业周期中的差异总是比相似之处更具启发性。由于经济开始出现转机迹象,因此目前尤其如此。在过去的低迷时期,部门像多米诺骨牌一样倒下。首先,房屋倒塌,然后消费者停止支出。后来,公司削减了资本支出。对通货膨胀的担忧使美联储在降低利率方面有些迟滞。

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