Dodging Recessions, Ducking Molotovs

Whatever the Fed suggests about the macro outlook at the March FOMC meeting, the US economy's headed for a soft landing. The restoration of price stability won't require a recession. That's the consensus narrative at this juncture. Personally, I don't have a strong opinion either way. Not if I'm honest. I pretend to care on most days, but as long-time readers will attest, I don't. Care, I mean. If I walked out my front door tomorrow morning and the city streets were on fire, I'd wave at a riote