[daxorid]

banker bad, armchair (amateur) realist good

As a paranoid rag goes, ZH's faults are many and varied, but come on - the critique that the Federal Reserve doesn't know what the hell it's doing is 100% valid.

The observation that the FRB consistently bats 0.000 in economic outlook and interest rate forecasts (e.g. Bernanke calling housing subprime defaults "contained", or Yellen constantly stretching out the timeline of getting off zero, or Powell cutting rates three times in 2019 after predicting four hikes less than a year prior, or claiming repo operations would be unwound completely by 15 Jan) is absolutely correct, and an absolutely appropriate critique to make, even by armchair quarterbacks.

Just look at the history of FRB dot plots to get a view for how absurd your implied position is that bankers/economists are any better at their jobs than a drunk with darts and an interest rate chart would be.