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by KMag
909 days ago
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That video link begins with "I believe there is a path to a soft or soft-ish landing", followed by a definition of a soft landing as unemployment not going up too much. It seems he's pretty clearly describing what he believes is possible, not describing what he wants absent constraints imposed by reality. It's pretty easy to play armchair economist, as the first-order effects of Fed intervention during COVID were pretty painful for a lot of middle- and lower-class Americans, at least those who would have kept their jobs even without intervention. Which models are you using and what do your models show the unemployment rate would have hit without any Fed intervention? How long would the COVID recession lasted without intervention? The question isn't "Were the Fed's actions harmful?" the question is "Were the Fed's actions less harmful than available alternatives?" |
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