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>her failure to appreciate the scale of the price inflation problem was not just a case of being “wrong.” If ever there were a case of 20:20 hindsight, that's

>her failure to appreciate the scale of the price inflation problem was not just a case of being “wrong.” If ever there were a case of 20:20 hindsight, that's one of them.

tiahura 4y ago
Every day for a year, every single business leader in every single industry, has been on CNBC warning about inflation. The only ones who didn’t get it are in the present administration.
- NovemberWhiskey 4y ago
  Not so much. https://www.nytimes.com/2021/07/17/business/dealbook/inflation-questions-experts.html https://www.nytimes.com/2021/07/17/business/dealbook/inflati...
  - tiahura 4y ago
    Austen Goolsbee? He was part of the Biden campaign and not a CEO. He seems like a good guy, but he’s a hack. Most of the executives quoted said inflation was an issue, but that they thought they would be able to raise prices to match (ie we’re going to do our part to make it persistent). Edit: A very important article. Basically the academic center-left consensus was 100% wrong, and everyone else was right.
    - NovemberWhiskey 4y ago
      The academic center-left consensus like the CEO of Citi? >“Will inflation be transitory? There are many reasons that the peaks we’ll see at the moment will be. But what’s the longer-term trend? That, I think, everyone will be keenly watching. We think the jury is out.” — Jane Fraser, chief executive of Citigroup
    - colinmhayes 4y ago
      Goolsbee is a world renowned economist with tenure at one of if not the most hawkish monetary institutions in the world. You don’t know what you’re talking about.
      - tiahura 4y ago
        He’s on Squawk Box weekly spinning away. I’m perfectly familiar with him going back to the Obama years. His role, in public at least, is to try to spin the D econ failure of the day in the way Wall Street might barely find plausible. Again, seems like a good and sharp person, but not an unbiased observer, and certainly not a CEO dealing with inflation issues in their business.
- deleted 4y ago
  [deleted]

>her failure to appreciate the scale of the price inflation problem was not just a case of being “wrong.” If ever there were a case of 20:20 hindsight, that's one of them.

tiahura 4y ago

Every day for a year, every single business leader in every single industry, has been on CNBC warning about inflation. The only ones who didn’t get it are in the present administration.

NovemberWhiskey 4y ago
Not so much. https://www.nytimes.com/2021/07/17/business/dealbook/inflation-questions-experts.html https://www.nytimes.com/2021/07/17/business/dealbook/inflati...
- tiahura 4y ago
  Austen Goolsbee? He was part of the Biden campaign and not a CEO. He seems like a good guy, but he’s a hack. Most of the executives quoted said inflation was an issue, but that they thought they would be able to raise prices to match (ie we’re going to do our part to make it persistent). Edit: A very important article. Basically the academic center-left consensus was 100% wrong, and everyone else was right.
  - NovemberWhiskey 4y ago
    The academic center-left consensus like the CEO of Citi? >“Will inflation be transitory? There are many reasons that the peaks we’ll see at the moment will be. But what’s the longer-term trend? That, I think, everyone will be keenly watching. We think the jury is out.” — Jane Fraser, chief executive of Citigroup
  - colinmhayes 4y ago
    Goolsbee is a world renowned economist with tenure at one of if not the most hawkish monetary institutions in the world. You don’t know what you’re talking about.
    - tiahura 4y ago
      He’s on Squawk Box weekly spinning away. I’m perfectly familiar with him going back to the Obama years. His role, in public at least, is to try to spin the D econ failure of the day in the way Wall Street might barely find plausible. Again, seems like a good and sharp person, but not an unbiased observer, and certainly not a CEO dealing with inflation issues in their business.
deleted 4y ago
[deleted]