ORLANDO, Florida   Engineering a soft landing is hard. But if you zoom out from the strictest definition of the term, the U.S. Federal Reserve has managed it more often than is generally believed. Admittedly, by the textbook definition of raising interest rates to cool an overheating economy or inflation without triggering a recession, the Fed has only achieved that once in its history. That was in the mid-1990s, when the U.S. economy avoided recession after the Alan Greenspan Fed doubled interest rates to 6% between February 1994 and February 1995.

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