No more economists from the Big Five MBA programs.
I would've said hire only graduates of the University of Chicago, but I think I'm leaning to only hiring economists from Austria, if you know what I mean.
The problem is their thinking. The assume a education means you are smart. It does not. It just means you have a education.
A person who is smart may learn something in half the time as another person. The person who learns it in half the time is the smarter person. It does not mean that person is not more intelligent if that person has half the education.
On the other hand if you have a bad education it does not make you smart. It just means you learned incorrect things.
This is what is wrong with the political ruling class. They assume that they are smarter than the voters when in fact they are not. They have a bad education. This is evident in the fact that they can not defend their position and must censor any opposing view.
Our political class thinks what they are doing is the best thing that can be done because they have a poor education. I had a lady calling me stupid because I said China flu. She called me racist because of that. I informed her that it was nationalistic because Asian was the race and not Chinese. She got all huffy and said she had a degree in racial studies.
Then I pointed out something she said was racist and she replied you can not be racist against whites. I showed here the definition of racism form the dictionary. But I could not tell her she was wrong because she had a masters degree.
The point is if you have a bad education you are not smart. And the crap you need to get a degree anymore is just not correct.
Just hire plumbers and electricians from Gaithersburg, Maryland. That would be a vast improvement.
I know what that means - like Friedrich Hayek and Ludwig von Mises.
Jerome Powell might have some memory issues.
Interest rates on the USA 10 Year Treasury Bond were below 1% from January 2020 to October 2020.
It looks like Powell raised interest rates twice in 4Q 2020, but just 0.25% each time, which would have had no obvious impact on the economy before election day.
Maybe Powell is suggesting that Trump was blamed for the slow down after 2020, when USA 10 Year Bond interest rates went to 4.5%?
Curiously, the German 10 Year Bund interest rate has been consistently priced at one half the USA interest rate for the last five years.