4 ms·
> I found Yellen's comments staggering - having to apologize for not seeing inflation coming - after the US increased money supply 40% from 2020-2022. The prob
by bko 4y ago
> I found Yellen's comments staggering - having to apologize for not seeing inflation coming - after the US increased money supply 40% from 2020-2022.
The problem with central bankers is that they don't have any consequences for their mistakes. No one will lose their job or any detrimental effect on their career. In fact, the system will select for people that have a orthodox view on economics that allows politicians to increase spending, cut people a few thousand dollar checks and give huge handouts to the largest corporations all while obfuscating the actual effects of their policies and robbing future generations of wealth
- throwoutway 4y agoI think the person you’re responding to is pointing out the intellectual dishonesty (or complete ignorance) of Hellen’s comments about the cause of inflation. Not necessarily the consequences, but yes— the ignorance leads to consequences for all of us