MLIV Pulse: Is Recession Necessary To Rein Inflation?

The transcript discusses the relationship between supply shortages, recession, and inflation. It argues that supply-side solutions are more effective than monetary policy in addressing supply problems. The speaker criticizes central banks for potentially forcing a recession and suggests that economies need time to absorb changes. The US economy is believed to be capable of handling higher interest rates than commonly assumed.

What does the text suggest about the need for central banks in relation to recessions?

How does the text characterize the US economy's ability to handle interest rates?