U.S. Economy May Be Heading to a Place That Must Not Be Named

A hard landing? A banana? Euphemisms for recession have a long history in Washington. Whatever the Fed is stating, it seems to be expecting something ugly, our columnist says. The Cornell economist Alfred Kahn, who was the Carter administration’s “inflation czar,” got into political trouble for using clear and disturbing words like “depression” and “recession.”Credit…Getty Images Jeff Sommer is the author of Strategies , a weekly column on markets, finance and the economy.

Recession has become a nasty word. Federal Reserve officials dance around it with euphemisms like “a soft landing” or its dreaded alternative, “a hard landing.”

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