[spaetzleesser]

" A year ago Powell's keynote said the inflation is a supply side problem due to "transitory" issues."

This reminds me a lot of the 2008 crisis when Bernanke told us that everything was just fine until banks started collapsing. Personally I think the Fed has turned into a political institution that keeps inflating bubbles until there is no way out. I can't see much wisdom or foresight in their moves. They seem constantly behind the curve and instead of smoothing out business cycles they make them more extreme.

[Loughla]

I want someone to prove you wrong, because I am right there with you. It seems like the swings just get wilder and wilder, and no one is at the helm.

Please someone tell me why this is incorrect.

[abakker]

There have been very few “swings” at all. This response is case in point for “so measured it is probably not enough”. Policy has been incredibly stable in the last decade, and then we had a crazy pandemic and the fiscal policy response, in hindsight, was wrong.

[klooney]

I don't even think it was wrong, it just went on too long. The US had an excellent recovery, but because Congress didn't want to pass automatic stabilizers, and they had a hard time passing laws, they set long expiration times- and the last stimulus bill went on too long in retrospect.

[nwienert]

A ton of people called it as it was happening