Fed staff says Wall Street is getting inflation all wrong

Bloomberg/Steve Matthews

Repost from 10-20-2021

photograph of Federal Reserve monetary report booklets“The Federal Reserve’s army of more than 400 Ph.D. economists has a message on inflation for policy makers and the American public: Chill out.”

USAGOLD note: Presented as a public service announcement …… Out of the army of economists at the Fed, how many predicted a year ago that the inflation rate would go from 0.5% to over 4.25%? Not many, we would venture. So why should we believe Fed economists when they tell us inflation will be under 2% in 2022?

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