Posted on 06/29/2022 12:27:08 PM PDT by knighthawk
Chair Jerome Powell said that the Federal Reserve has over the past year learned 'how little we understand inflation' in remarks Wednesday.
'I think we now understand better how little we understand about inflation,' the chair divulged at the European Central Bank (ECB) Forum in Sintra, Portugal. 'This was unpredicted.'
'That's not very reassuring,' quipped Bloomberg TV's Francine Lacqua.
(Excerpt) Read more at dailymail.co.uk ...
F’ing liar.
No Republican administration would get a pass from the MSM and the people for being “ignorant”.
Gasoline prices have doubled and this guy is surprised about inflation?
By “we” I assume she is talking about Keynesians, because everyone else understands perfectly well how inflation works.
Unpredicted? I’ll bet Trump knew. How is that possible?
The Anthony Fauci of the Fed Reserve...
Funny, everyone else knew it was coming.
He’s either a liar, an idiot, or (most likely) both..
“’This was unpredicted.’ “
Only by fools like him. What else would you expect when you flood the economy with trillions of freshly printed monopoly money?
Let’s see, trillions of dollars printed up out of thin air and thrown at your buddies to invest. And there was absolutely no way that debasement of the currency could ever be predicted to cause inflation?
It’s not like we haven’t had centuries of experience with this topic:
https://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640
This Time Is Different: Eight Centuries of Financial Folly –August 7, 2011
None of the other countries in the world did any better job of predicting their inflation either so Powell isn’t alone. The problem is that the factors feeding inflation this time - COVID, stimulus payments, supply chain, tight job market, oil shortage - haven’t come together in the past like they have now. Will historical weapons for fighting inflation like higher interest rates be as effective? Time will tell.
BS lying mofo!!
The US dollar is worth less than 5 cents of its preFederal Reserve value. They take us for fools.
I had no way to predict that peeling all of my toe nails off backwards with a pair of pliers would be somewhat uncomfortable
Just because every HS home economics student in the nation knew today’s official policies would result in mind-blowing inflation doesn’t mean the Chairman of the Fed would too.
Yup. I’m not sure whats more terrifying; the idea that he thinks we are that stupid or that he may be that stupid.
I’d recommend taring and feathering them and sending them
out of town on a rail, but I think we can forget the
feathers, the rail, or them ever leaving.
Just get a tank full of tar.
While I say that in jest, these people have clearly targeted
the citizens of the United States to be controlled or worse.
I don’t tolerate the reality of that well.
I seem to remember tons of people on FR predicting massive inflation after the creation of trillions of dollars in new money.
I also seem to remember lots of people predicting high gas prices when Biden canceled oil leases and stopped the construction of oil pipelines.
Maybe it’s just Powell that doesn’t understand inflation?
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