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Finally, an op-ed with the revelation that “average inflation targeting” is a concept so stupid it could only have come from PhD economists:
“Because inflation targeting has boosted returns to capital over labour, it may have also contributed to increasing income inequality. This disparity has probably played a role in the rise in populism in many countries.”
Former St. Louis Fed President and current idiot Jim Bullard explains...
To be fair, there were one or two cranks who objected back in 2020:
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It seems that Fed employees know how to get rich betraying the public.