‘member in 2020 when Jerome said “we’re not even thinking about thinking about raising rates”? 

Then inflation was transitory…

Then inflation was “stickier” than predicted.

Then they hiked rates at a historically unprecedented pace but it was OK because they’d nail the soft landing.

Then inflation was under control according to Paul “Fax Machine Mission Accomplished” Krugman.

Then they were going to cut rates. 

Now they’re not going to cut rates…

It’s almost like having a fluid monetary policy controlled by unelected bankers is a bad idea..? https://i.nostr.build/J6Kml.jpg