So, here's this long-winded Fed paper speaking as if the "business cycle" isn't artificially induced and controlled. I'm not saying that the authors actually realize or not.
To be clear, the "business cycle" is not some "natural" law of economics. We could easily have an economy with nothing even remotely approximating the "business cycle."
All the "business cycle" is, is the Fed and others ignorantly not reacting quickly and decisively enough or it is the Fed and others deliberately not reacting quickly and decisively enough for the sake of those who benefit from the artificial cycle.