[StanislavPetrov]

>For a small example, until a few months ago many US Treasury and Fed officials insisted that any inflation would be "transitory" at worst. Now many admit they were wrong,

That government officials are fallible and incompetent is (in my opinion) the weaker argument. Even if they were extremely competent and had a crystal ball that predicted the future (they don't), nobody should trust the intentions or the goals of government agencies with such ubiquitous and unchecked power.