The Disagreement Between Lagarde and Bailey and Powell on Economic Forecasting

They don't know what's happening or what's going to happen in terms of monetary policy./nThe credibility of economic forecasting has gone down since 2020 or 2021./nCentral bankers had an easier time in the past due to low volatility, but now they are facing challenges and making errors./nThere was a divergence in opinions among the biggest central bankers regarding the need for further tightening./nThe disagreements highlight the uncertainty and lack of knowledge among forecasters./nThe inability to predict future events has been a defining feature of this whole cycle.

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