[sudden_dystopia]

Seemed like a long winded persuasion that monetary policy doesn’t matter all that much and that at the end of the day, the disaggregated inflation we experience in the real world is the result of oligopolies, which to me, seems like a subtle plug for MMT.

I don’t buy it. I have heard plenty of economists and economically savvy people call BS on CPI as a metric for the very same reasons outlined here. CPI is a fallacy, mostly pushed by the the govt since it tends to generally be favorable to them and disguise the disaggregated nature of inflation. But that doesn’t mean that the underlying economic principles are false.