The "action plan" is misguided as a weapon against recession.

Queasy Consumers The first line of defense against recession is the consumer.

Remember that the first line of defense against recession is monetary policy, the ability of the central bank to cut interest rates.

Rather, Mr. Minsky wrote, government itself is a necessary bulwark against recession.

But monetary policy works against recession by reducing interest rates and therewith rentier income.

The economy slowed, and the nation discovered it had spent the wealth of the boom years without building a buffer against recession.

The Liberal Democrats' main strategy against recession has been public works spending, with projects awarded disproportionately to rural districts where the party is strong.

The European Union has been a bulwark against recession in the past.

The European Central Bank must fight against inflation, but also against recession.

And, he's saying he doesn't quite have the flexibility to launch a full assault against recession because inflation remains somewhat troubling.