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Noah Smith: The best tools for fighting recession run on autopilot

FILE- In this Aug. 24, 2015, file photo specialist Frank Masiello is reflected in his screen on the floor of the New York Stock Exchange. The bond market is getting another whiff of a recession Bonds are supposed to be the boring corner of the finance world, but even high-flying stock investors stop and pay attention when they fall into a particular, concerning pattern. It’s called an “inverted yield curve,” and it happens when investors are willing to accept lower yields for long-term U.S. government bonds than for short-term debt. It’s been a relatively reliable predictor for recessions, and it’s happening again.(AP Photo/Richard Drew, FIle)