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Just a little while ago, everyone was praising Jerome Powell for doing whatever it takes, to stem the Covid-19 spiraling doom.
Actually, big events are generally rare and hence big decision makers actually only have few opportunities to practise, get feedback and adjust to get it right (let's say, compared to someone learning to execute projects or picking up a sport). All of us, in our learning as OPMIs, understand the importance of the "execute --> results --> feedback --> learn" cycle. But it is just unfortunate that the big decision makers do not have our luxury.
What is the Fed Doing?
Please allow me to translate each of these statements:
- The Fed wants the unemployment rate to rise to slow inflation.
- They want wages to fall to slow inflation.
- They are willing to throw us into a recession to slow inflation.
I think Fed officials are so embarrassed they missed inflation getting this high that they’re willing to overcorrect to the other side and force us into a recession to prove a point.
Why not allow people to see their wages rise for a little longer and have a little patience to see if the pandemic-related inflation stuff will subside on its own?
https://awealthofcommonsense.com/2022/09...fed-doing/
Actually, big events are generally rare and hence big decision makers actually only have few opportunities to practise, get feedback and adjust to get it right (let's say, compared to someone learning to execute projects or picking up a sport). All of us, in our learning as OPMIs, understand the importance of the "execute --> results --> feedback --> learn" cycle. But it is just unfortunate that the big decision makers do not have our luxury.
What is the Fed Doing?
Please allow me to translate each of these statements:
- The Fed wants the unemployment rate to rise to slow inflation.
- They want wages to fall to slow inflation.
- They are willing to throw us into a recession to slow inflation.
I think Fed officials are so embarrassed they missed inflation getting this high that they’re willing to overcorrect to the other side and force us into a recession to prove a point.
Why not allow people to see their wages rise for a little longer and have a little patience to see if the pandemic-related inflation stuff will subside on its own?
https://awealthofcommonsense.com/2022/09...fed-doing/