“We don’t manage the stock market,” but “it enters into our thinking. I think the general thing is that the stock market is not the economy.” & Jerome Powell, 1953 – present, Federal Reserve Chair in his first appearance on Capitol Hill
Stability Is Destabilizing
Capitalist economies have always been beset by a cycle of boom and bust. The term ‘boom-bust cycle’ (also known as ‘business cycle’ or ‘economic cycle’) refers to the natural fluctuation of the economy
between periods of expansion and contraction.
