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Imagine being Fed Chair Jerome Powell. You've just successfully nailed the post-COVID disruption softlanding by amazingly bringing down inflation AND unemployme
by xnx 2y ago
Imagine being Fed Chair Jerome Powell. You've just successfully nailed the post-COVID disruption softlanding by amazingly bringing down inflation AND unemployment at the same time. The American economy is roaring and the envy of the world. Then, a collective of the absolute least-qualified, most vindictive, idiots comes in and sets the US back 100 years for absolutely no good reason. Voting everyone involved out of office won't be nearly enough.
- redlock 2y agoI wouldn't call the inflation that ravaged the world and real estate prices beyond the means of the middle class "saving". His quantitative easing and zero interest rate policy only saved asset managers and corporate balance sheets.
- epistasis 2y agoLook back at expectations at the beginning, and you'll see that nearly everybody was predicting massive recession and even hyperinflation. Balaji bet $1M that there would be hyperinflation: https://news.ycombinator.com/item?id=35201728 https://news.ycombinator.com/item?id=35201728 Yet that didn't happen. We dodged a major bullet, and survived far better than the rest of the world. We must look back at predictions and outcomes with clear eyes, not with the narratives that are being sold in the current day.