What we've learned about recessions as Americans brace for impact
CBSN
Economic recessions may seem like a tidal wave: You can see them coming from a mile away — the problem is getting out of their path.
As Americans brace for another possible downturn, experts note that while they have common features, no two recessions are precisely alike. Some slumps, like the one that kicked off in 1973 as oil prices spiked, originate on the supply side. Others, like the Great Recession that followed the housing crash, are triggered by a sudden drop in demand that vaporizes consumer spending.
Today, the main threat is searing inflation, forcing consumers to tighten their belts and the Federal Reserve to jerk back on its main economic stick — interest rates — in a desperate bid to throttle inflation.
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