Consequentially, we'll have broken monetary policy for at least another generation. I saw an article last week with a headline saying, "Fed's Powell says up to 1.5 million people will become unemployed under current policy." I believe his estimate is ambitious given the blunt force that's being used. It's a perverse plan, running a foul of the principle and spirit of the Full Employment and Balanced Growth Act from which the policy comes. It just doesn't have to be this way.
Consequentially, we'll have broken monetary policy for at least another generation. I saw an article last week with a headline saying, "Fed's Powell says up to 1.5 million people will become unemployed under current policy." I believe his estimate is ambitious given the blunt force that's being used. It's a perverse plan, running a foul of the principle and spirit of the Full Employment and Balanced Growth Act from which the policy comes. It just doesn't have to be this way.