However, I would like to stress that  4  At this year's annual meeting of the American Economic Association held in San Diego, California, there was a session titled "Japanification, Secular Stagnation, and Fiscal and Monetary Policy Challenges." For details, see https://www.aeaweb.org/webcasts/2020/japanification-secularstagnation-fiscal-monetary-policy -challenges.
Analysts point to the track record of the US economy. Ever since the data on the Federal Funds rate are available from Q3:1954, there have been ten occasions in which monetary tightening has caused a recession in the US. On the other hand, not all episodes of tightening have ended in recession.