> "Molding the economy to their will" The thing to remember about central banking is that it's a relatively immature art, not science, and its practitioners ar

> "Molding the economy to their will" The thing to remember about central banking is that it's a relatively immature art, not science, and its practitioners are still refining the toolset. As a kid, I think one grows up just assuming they know what they're doing and that it's a pretty solid practice, but not so. You see them molding the economy to their will, but I see a bunch of people with gritted teeth and high blood pressure reactively trying to steer an out-of-control stagecoach whose horses are running at full tilt with their manes on fire down a country road with blind turns, giving it their all to keep it from crashing violently. They apply lessons learned but I think that every major economic event is still largely an experiment, and occasionally they still make the wrong moves leading to a need to apply harsh corrections. Give it another 100 years and maybe all the permutations will have been seen and the solution sets known, but it's a terribly complex beast, complicated by radically higher global entanglement in the prior 50 years. The question is, is it better than the alternatives. I think if expectations are realistically low, it is better to have some knobs and dials that you can monkey with to try and control speed and direction. Just my .02 (which is seemingly worth less each day).