Is It Incompetent?

It's partlly because there's a monoculture in the federal reserve altes. There's a strong motivation to ignore the monetoris porspective and to try and belittle the idea that a monetary issuance can cause inflation. And also, there's new, those new theories coming out that i you know, dithering at the top administrative level in terms of who would be running the fed. But it's, you know, i think it's undeniable now that, a, the fed waited way too long. They sort of wanted inflation a little bit, and then they waited way toolong to act when it was clear that it was out of control.

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