3 ms·

The Federal Reserve has done a pretty good job on inflation in recent decades: https://www.macrotrends.net/countries/USA/united-states/inflation-rate-cpi https:

The Federal Reserve has done a pretty good job on inflation in recent decades: https://www.macrotrends.net/countries/USA/united-states/inflation-rate-cpi https://www.macrotrends.net/countries/USA/united-states/infl... The 1970s were bad, but we had a 40-year period of low, stable inflation, which is the goal. Now's not great, but it's not the Federal Reserve's fault; between a global plague, supply chain disruption, and a land war in Europe, inflation is up across the globe: https://tradingeconomics.com/country-list/inflation-rate https://tradingeconomics.com/country-list/inflation-rate Compare that to the economic chaos that was much more common before the rise of strong central banks and I'd say "Federal Reserve baaaaad" is somewhat lacking in nuance.

bottlepalm 4y ago
Global plague nope, supply chain disruption nope, a land war in Europe nope. Printing 13 trillion dollars for corona stimulus, yep. Though I guess that's more the fault of the legislature than anyone else.
- mouse_ 4y ago
  +1
- WinstonSmith84 4y ago
  Yeah ... But I think he must have been sarcastic with "The Federal Reserve has done a pretty good job on inflation". The FED can't be totally blamed, respective governments share a big part of the incompetency
mouse_ 4y ago
In those times of economic chaos, a working class individual could afford a house and food for his family.
- ansible 4y ago
  > In those times of economic chaos, a working class individual could afford a house and food for his family. Should that really be a surprise when we see the growing disparity in income between the average worker and the CEOs? The rich have been keeping a greater and greater percentage of corporate profits for themselves. And it now isn't being siphoned off by the government because the rich have also lobbied to have the top-income tax rates lowered and lowered.
- wpietri 4y ago
  They're not wizards. Their job is to manage monetary policy, and I think they do a decent job of it.

bottlepalm 4y ago

Global plague nope, supply chain disruption nope, a land war in Europe nope. Printing 13 trillion dollars for corona stimulus, yep. Though I guess that's more the fault of the legislature than anyone else.

mouse_ 4y ago
+1
WinstonSmith84 4y ago
Yeah ... But I think he must have been sarcastic with "The Federal Reserve has done a pretty good job on inflation". The FED can't be totally blamed, respective governments share a big part of the incompetency

mouse_ 4y ago

In those times of economic chaos, a working class individual could afford a house and food for his family.

ansible 4y ago
> In those times of economic chaos, a working class individual could afford a house and food for his family. Should that really be a surprise when we see the growing disparity in income between the average worker and the CEOs? The rich have been keeping a greater and greater percentage of corporate profits for themselves. And it now isn't being siphoned off by the government because the rich have also lobbied to have the top-income tax rates lowered and lowered.
wpietri 4y ago
They're not wizards. Their job is to manage monetary policy, and I think they do a decent job of it.