Financial Accelerator Effect in the Real World

Credit and financial conditions are often highly pro-cyclical:

https://www.federalreserve.gov/newsevents/speech/bernanke20070615a.htm

Right now, credit conditions and lending standards are being eased just as US economic growth is peaking:

https://www.bloomberg.com/news/articles/2018-04-26/fed-at-odds-with-itself-as-it-eases-bank-rules-and-raises-rates

Financial Deregulation Throws Fuel on Already-Hot Economy

https://www.wsj.com/articles/financial-deregulation-throws-fuel-on-already-hot-economy-1524654001