How is that only "mostly" correct?
1,355 karma · joined March 2, 2017
How is that only "mostly" correct?
It also encourages zero-sum thinking generally.
I agree with you that it’s difficult to predict whether inflation will or won’t be transitory and I suspect that if you got Powell to speak honestly about the issue he’d tell you that his confidence in his projection is closer to 2/3 than 99/100.
He does have a lot of quite powerful tools that make it easier for him to be correct, such as expanding the money supply by an unlimited amount and defining the inflation metric.
Note: Not claiming anything here about where prices will head next.
If you're trying to get through these while spending the least amount of time on them, you want to answer "How would most people presented with this answer the following: _______ ?" as opposed to "What do you think is the most correct answer to the following ________ ?"