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If you're ascribing that level of intent to the Fed, then what do you say about the current situation? As someone trying to sell my home right now, I can tell t
by tootie 4y ago
If you're ascribing that level of intent to the Fed, then what do you say about the current situation? As someone trying to sell my home right now, I can tell that the massive bull run in equity is almost gone already. We issued massive fiscal and monetary stimulus in the face of the steepest recession in history and successfully forestalled economic catastrophe. With the cost being a wild ride for assets and prices that will certainly taper off in the near future. Small price to pay if you ask me. As someone who's lost a ton of (purely notional) net worth in the last year, I think policy makers are doing a really good job.
If you look at the alternative. The ones who said let's keep schools and businesses open during a pandemic and let people die to keep the economy humming along, I'd say we took the right path.
- saiya-jin 4y agoI agree with you, but we had been incredibly lucky with the way covid mutated into much weaker omicron so quickly (no, we didn't get permanent antibodies that can handle it all from now on forever, most folks have almost 0 of those now if they only got vaccines and no real infections). If it mutates back into more morbidity, we will be in much worse position since I don't think we will have a realistic option to repeat that stimulus without plunging whole world into (not only) economic chaos.