History will not judge the Powell Fed kindly ...Middle East

It would be an understatement to say that the Federal Reserve has a poor forecasting record. Last year, the Fed kept assuring us that inflation would soon come down to its 2 percent inflation target. It did so only to find that consumer price inflation accelerated to a 40-year high of more than 8 percent. This year the Fed keeps assuring us that it can bring down inflation while achieving a soft economic landing. It is doing so even though consumer price inflation has remained stuck at an unacceptably high level and the economy is showing every sign of heading for a recession within the next 12 months. Last year, the Fed’s underestimation of the inflation risk led it to maintain an

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History will not judge the Powell Fed kindly ...Middle East

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