The United States has endured eleven recessions since the end of World War II, including the recession of 2007-2009. This book focuses on the performance of the economy and the actions taken during the expansion period before the onset of each recession. Its goal is to reveal what might help prevent or at least lessen the severity of possible future recessions.

Well-known economics writer Norman Frumkin analyzes each of the eleven contemporary recessions to determine:

• What weaknesses appeared in the economy during the twelve months preceding the onset of the recession?

• What were economic forecasters predicting?

• What economic policy actions were taken by the Federal Reserve, the president, and Congress?

Incorporating extensive real-time data, Frumkin points to persistent failures over the past sixty years by the Federal Reserve and presidential administrations to forecast or even to acknowledge the possibility of future recessions. Based on these findings, he concludes with a range of policy recommendations for avoiding or ameliorating future recessions.

The book is intended to be fully accessible to economics students as well as policymakers and economists.