“We now know more about what we don’t know about inflation”.
So now we’ve gone from unknown unknowns to known unknowns.
But … but …
People, many people, warned at the time that injecting Trillions — TRILLIONS — of dollars into the economy would be inflationary. Biden & co ignored or denied this. They went ahead anyway and injected Trillions of boondoggle dollars. Result? … inflation!
Now, I just got a simple pass degree in Economics, 50 years ago. But even I know that if you inject money into the system you get inflation. It’s Eco 101.
Goodness!
(Though I give this post the label this “hypocrisy”, because Powell must know. He’s gaslighting us).
