#MacroView: Mnuchin & Kudlow Say No Recession?

Yes, we are in a recession, it has just started, and we have quite a ways to go before it is over. Unfortunately, both Larry Kudlow, Steve Mnuchin, and the Fed, are still misdiagnosing what ails the economy, and monetary policy is unlikely to change the outcome in the U.S. We have months to go before we are done.