As the U.S. economic expansion ages and clouds gather overseas, policy makers worry about recession. Their concern isn’t that a downturn is imminent but whether they will have firepower to fight back when one does arrive.
They don´t even realize that for the past year they´ve done a lot of tightening, or that China´s recent “turbulence” in the FX market, following diminished growth, is a direct result of that tightening!
It appears they want a recession to come along! After all, the current “expansion”, which has been going on for 74 months, being already the fifth longest in history, cannot go on forever!