The FED called inflation "transitory"! That is all you need to know about the predictive ability of the Central Bank.
They also failed America on interest rates. They failed on S & L's. They failed on real estate. They failed on inflation. They have failed on maximizing employment.
For starters, 39% of Americans say they have skipped meals to afford their housing payments And among millennials, that figure rose to 44%. (Among Baby Boomers, it was 20%.)
And now they are going to predict weather?
When J. Powell walks out to a press conference to announce we can easily live with 3 or 4 or 5% inflation it will be the ultimate slap to the American way of life. There is no credibility with these government employees. None.
Abolish this institution please. Just end the Fed.
https://www.federalreserve.gov/newsevents/pressreleases/other20230117a.htm
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