BloombergOpinion/Mohamed A. El-Erian/7-22-2022
“The result of this is a central bank that continuously struggles to properly inform and influence economic agents, that consistently lags behind markets rather than leads them, and that could easily fall prey to the even more catastrophic policy mistake of returning to the 1970s trap of ‘stop-go’ policies.”
USAGOLD note: El-Erian criticizes the Fed for poor analysis. A direct criticism might be that it should refrain from tailoring the analysis to fit the political agenda – and let’s not pretend any longer that the Fed doesn’t have one.
