Economies are very strongly affected by public sentiment, so it's understandable that economists would want to manage that sentiment such that the bumps in the

Economies are very strongly affected by public sentiment, so it's understandable that economists would want to manage that sentiment such that the bumps in the road don't cause wild swings in the market and destabilise the economy. Yes, it's very paternalistic, but it's also how you maintain order and the smooth running of things in big societies (provided you're doing it in good faith - but that's a very different discussion). This is also why defense and foreign policy are filled with liars: We need them to lie about the right things. It's not a problem until your society is destabilised by other factors such as income inequality or rampant corruption, after which point they only serve to further undermine the public trust in the institution.