Governments and central banks in the United States and the euro zone will not tolerate a fall in growth

Governments and central banks in the United States and the euro zone, likely traumatised by the fallout from the 2008-2009 crisis (banking crisis, political and social crisis), now will not countenance a slowdown in growth . This means that at the first sign of growth slowing: Monetary policy, which is already highly expansionary, becomes even more so; Fiscal policy becomes expansionary again. It also means that no risk is taken with growth: economic policies remain stimulatory even during expansion periods .