Hacker News new | ask | show | jobs
by dandesim 864 days ago
First, you're lumping every economist into a single entity. Different economists can look at the same information and determine different outcomes. It is more subjective than objective.

That said, many economists did warn that stimulus money would lead to inflation, however there were many people in dire need which justified the 'greater good' approach to it. As to fighting said inflation, many economists believed we would have the 'soft landing' that we are heading for. They warned fighting too hard would lead to a recession, as in the harder and higher interest rates go, the more likely a recession would become.

Were there economists on the other sides of these beliefs? Yes, so that's why weighing the multitude of opinions and getting toward a consensus comes into play.