(Chicago, IL) -- The Federal Reserve may not be able to lower inflation without delivering a significant blow to the U.S. economy.
That's according to a new research paper by a team of leading economists. The paper looked at previous central bank efforts to create what's called disinflation in the U.S., Germany, Canada and the U.K.
They found no instance in which a central bank was successful without causing a recession.
This comes as the Fed has imposed a series of interest rate hikes to bring inflation down to two-percent.