Cleveland Federal Reserve Bank President Loretta Mester said a recession could still be triggered in the United States by the central bank’s attempt to cool high inflation. Mester said the high-interest rates are already slowing the economy and noted that when growth is already “well below trend” a recession wouldn’t have that much of a negative shock. “I don’t think that’s necessarily a positive thing,” she admitted. The official went on to say that a meaningful downturn in the American economy is not what she estimated at the outset and that it’s not what the Fed is “engineering to do.” NN: What bullshit. The Fed has never ever raised rate raised unemployment without triggering a recession. The more they raise rates the bigger the recession and more people lose jobs. It will be no different this time… Despite spin deigned to foo the fools.