Hilsenrath Warns Fed Is Out Of Ammo, “Policy Makers Resorting To Backup, Backup Plans”

Tuesday, August 18, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
08/18/2015

As the U.S. economic expansion ages and clouds gather overseas, policy makers worry about recession. But, as WSJ’s Jon Hilsenrath warns, their concern isn’t that a downturn is imminent but whether they will have firepower to fight back when one does arrive. “The world economy is like an ocean liner without lifeboats,” economists at HSBC Bank explained, and as looming threats are a reminder that the slow-growing global economy is just a shock away from peril, with rates already at zero, Douglas Elmendorf, the recently departed director of the CBO, warned, “policy makers are thinking about their backup, backup plans.”

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