The chance of an economic "soft landing" has faded, and the Fed is pushing for a "growth recession." The phrase describes a period of below-average growth, rising unemployment, and slowing inflation. The Fed chair said that while it'd "bring some pain," letting inflation stay high would be worse. In an ideal world, the Federal Reserve has already vanquished pandemic-era inflation while keeping unemployment at historic lows and avoiding a recession. Hopes for such an outcome are all but entirely dashed, and the Fed has switched to plan B. The central bank's message at its annual conference in Jackson Hole, Wyoming,...