As someone with Monetarist leanings ( which arguably makes me more "data driven" than the other branches, ironically ), I relate all this back to the Bank of En

As someone with Monetarist leanings ( which arguably makes me more "data driven" than the other branches, ironically ), I relate all this back to the Bank of England, that solemn engine of colonial oppression, being used as the template for all banking. The Fed balance sheet is being used as a prop in an economic horror movie. It is indeed econometric myopia. We set 2% inflation targets and then fail to meet them. But production is inherently extrinsic to central banks. With a populace that thinks more and more like retired people, it's harder to get the fire lit.