“The Fed will have to move quickly to address this situation or risk losing credibility on its inflation target,” - James Bullard, Federal Reserve
Bullard has warned for months that inflation was rising dangerously fast and that the Fed had to take action.
“We’re at more risk now than we’ve been in a generation that this could get out of control,” he said last month, even implying there was too much groupthink at the Fed.
For the record, I hate groupthink. People within a group suppress their thoughts or feelings on a subject because they fear being left "out of the group" and go along with a bullshit notion of belonging. To which I say, "Grow the fuck up. If you want a fucking friend, go get a dog. If you want to join a clique of ass hats, go back to fucking high school."
Groupthink on parade
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