Well, he’s got it half right. Robert Weidemer, author of “Aftershock,” thinks we’re going into a recession—check. He also thinks the Fed can do something about it—uncheck.
This is the old story of how, allegedly, the “hair of the dog” that bit you the night before will help cure your hangover the next morning. It doesn’t make it go away, I’m told (I have no personal experience in the matter!) that it doesn’t cure anything, but a shot of booze in the morning makes you not care as much!
Someday, Weidemer will admit this, and place the blame for the recession we’re in squarely at the feet of the Fed where it belongs.