美联储主席不相信美国会进入衰退 Fed Chair Powell claims that soft landings have been relatively common in U.S. monetary-policy history, pointing out that tightening in 1965, 1984 and 1994 didn’t cause recessions. St. Louis Fed President Jim Bullard also looks to repeat the triumph of 1994. For investors, though, 1994 was not a good year for either bonds or stocks. In fact, that was the only year when both the S&P 500 and Bloomberg’s (Lehman Brothers’ as it was then) Treasury Total Return index had losses. The Treasuries lost 3.4% that year, surpassing the price decline of 1.5% in the S&P, (including dividends, though, stocks gained 1.3%)