This is from June of 2021. Here is the title.
Fed’s Powell Plays Down Inflation Threat
Sees shortages fading over time, bringing inflation closer to the Fed’s 2% long-run target
In it Chairman Powell says the Federal Reserve expects inflation to be 3.4% year-over-year in the 4th Quarter of 2021…only a few months later. “Fed officials last week increased their median forecast for inflation this year. They project consumer prices in the fourth quarter of 2021 will rise 3.4% from a year before.”
The Actual number was 6.68%. In the first quarter of 2022 it was 8%. In the second quarter of 2022 it was 8.63%.
Off by a factor of 2. Destroying the middle-class. And the Fed is/was wrong by so very much it is embarrassing. But they never apologize. And the press treats the Fed. like royalty. And that is embarrassing.
And if I am President, this will never happen again.
My comments on that day as I got ready to do a radio show in 2021.
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