A Misguided Fed Needs to Face Reality
by Adam English, Outsider Club:
High in an ivory tower far from the masses, the architects of the modern stimulus-based global economy have enjoyed a deference to their expertise and authority for years.
In spite of the power they wield and the years of experience they have accrued at the helm of one of the most powerful economic institutions in history, the Fed has allowed itself to drift too far from reality.
They are prone to the same mistakes we all make. They trust themselves more than they should. They dismiss valid criticism when it doesn’t mesh with their priorities. And they have become complacent and failed to adapt after years of hegemony.
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