> The fed should be cautious by making any changes. I believe the fact they didn't rush to judgement has led to a much better than normal situation. The Fed wa

> The fed should be cautious by making any changes. I believe the fact they didn't rush to judgement has led to a much better than normal situation. The Fed was not cautious during the pandemic. Not at all! They dropped interest rates to near zero, massively increased QE, and shot the stock market over the moon. Then they sat there watching inflation spiral out of control in the misguided hope that it was "transient" before finally clamping down harder than they would have needed to if they had done the right thing in the first place. It was a massive overreaction, and a significant change in policy (at least in degree if not in character, especially because the lack of emphasis on inflation policy), and they did it in a hurry before they had a chance to really figure out what was happening. Now we all have to suffer for it -- and the impact of inflation on American families should not be handwaved away or minimized. Back in 2021, people like Larry Summers were also dismissed for making "doomsday predictions" that turned out to be true. He wasn't the only one who noticed -- but he was the only left-leaning economist brave enough to challenge the new administration by saying what a lot of them already knew. This isn't hindsight -- people knew the Fed was wrong years ago.