The Federal Reserve should use the same tools to fight the next recession that they developed during the financial crisis, even though the controversial strategies only achieved so-so results, according to a new paper released by a group of all-star economists Friday. Global central banks won’t be able to rely on their traditional policy tool of slashing their benchmark interest rates to fight the next recession because rates are already low or negative. The paper said policymakers should use some mix of tools, including: • QE, or quantitative easing, which is buying assets and expanding the central bank’s balance ... (full story)