They found that «the slope of the domestic yield curve provides information about the likelihood of future recessions in all eight countries studied.» (hussman.net)
However, Rosengren also thinks it is likely that the Fed would resume asset purchases during future recessions, ``... unless they are very, very mild.» (alt-m.org)
His comment on Keynesian economics is in reference to the theory that governments should spend more — even by running deficits — to stimulate the economy during hard times and government should pay off debt and prepare for future recessions during good times. (theglobeandmail.com)