The Federal Reserve pulled off an economic master stroke two years ago when it managed to throttle back the economy and deter inflation without also starting a recession. Can it do so again?

"Yes, by tightening credit incrementally while constantly reassessing the situation, just as the Fed did previously," asserted Rosanne M. Cahn, chief economist at Credit Suisse First Boston Corp.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.