Unbelievable that the economy of our nation is run by these clueless “experts.” We could get better results from a monkey with a dart board.
“The transcripts of the 2006 meetings, released after a standard five-year delay, clearly show some of the nation’s pre-eminent economic minds did not fully understand the basic mechanics of the economy that they were charged with shepherding. The problem was not a lack of information; it was a lack of comprehension, born in part of their deep confidence in economic forecasting models that turned out to be broken.”
Clueless doesn’t even begin to cover it.