The “Best” Economy Ever? Neither Before, Nor After Coronavirus

Never before in any business cycle has official rates remained below the inflation rate for almost the entire growth cycle. In the end, monetary policy stimulated finance over the economy and in the process created an equity market that was “too big to fail”; and its fall deepens the recession and slows the recovery. The US economy has the potential to be the “best”. But to be the “best” it needs to clean up corporate balance sheets and follow best policies and best practices.