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I am not arguing that they failed at predicting the future: they failed at managing expectations. I am suggesting that the Fed should have not be authoritative
by fosk 3y ago
I am not arguing that they failed at predicting the future: they failed at managing expectations.
I am suggesting that the Fed should have not be authoritative on these topics since obviously they have no clue. Only recently they tried to tone it down a little by asserting they are a "data-dependent" and even then, they are still authoritatively making assumptions every week on things they have no clue about.
- martythemaniak 3y agoAgain, dig into your own premise. You can't set and manage expectations about a future you cannot predict. You can set expectations about your behaviour given a certain situation (ie, if kid misbehaves, then no video). You cannot set expectations about the economy, because the economy is a complex and unpredictable system. This is the reason that while companies can issue guidance and forecasts in their quarterly reports, they come with pages of disclaimers. You've essentially taken the equivalent of those forecasts at face value, ignored the disclaimers and are angry your trades didn't work out. You can blame other people all you want, but your ideas are just weird.