Hopefully JayPow has a better "scratch off ticket" outcome long term than this guy:- https://www.cbsnews.com/news/michael-todd-hill-lottery-winner-sentenced-life-prison-north-carolina/
%% I'm sure he does; J Powell has an estimated net worth of $20-50 million+ founded a 16 school group in DC. He likes the song ''Star of wonder, star of light guide us by thy perfect light''
Meanwhile he better get on the inflation case because we can't be having any more of this happening :- https://fred.stlouisfed.org/series/APU0000702421
Welll yeahhhhhhhh duh. Like a trillion (at least) other times as well. But didn't she get the memo she is no longer FedHead thankfully:- Yellen says she was ‘wrong’ about ‘path that inflation would take’ https://thehill.com/policy/finance/3507422-yellen-says-she-was-wrong-about-path-that-inflation-would-take/ BY CAROLINE VAKIL - 05/31/22 7:37 PM ET SHARETWEET Anna Rose Layden Treasury Secretary Janet Yellen delivers her opening remarks during a House Financial Services committee hearing on the State of the International Financial System in the Rayburn House Office Building in Washington, D.C., on Wednesday, April 6, 2022. Treasury Secretary Janet Yellen acknowledged in an interview on Tuesday that she was “wrong” about “the path that inflation would take,” as the lagging COVID-19 pandemic and Russian invasion in Ukraine have kept prices persistently high. During an interview with CNN’s Wolf Blitzer, the network played a clip of previous comments she made in 2021, in which she said inflation would be a “small risk” and added that she didn’t “anticipate that inflation is going to be a problem.” “Well, look, I think I was wrong then about the path that inflation would take,” the Treasury secretary said when asked about her previous comments. “As I mentioned, there have been unanticipated and large shocks to the economy that have boosted energy and food prices and supply bottlenecks that have affected our economy badly that I didn’t — at the time didn’t fully understand. But we recognize that now.” “The Federal Reserve is taking the steps that it needs to take. It’s up to them to decide what to do. And, for our part, President Biden is focused on supplementing what the Fed does with actions we can take to lower the cost that Americans face for important expenditures they have in their budgets,” she added. Biden writes US not seeking Putin ousterEnergy & Environment — EU agrees to oil ban — with an exception The interview came as Yellen met earlier on Tuesday with President Biden, Federal Reserve Chairman Jerome Powell and National Economic Council Director Brian Deese as the Biden administration navigates persistent inflation. Powell and Yellen acknowledged in December that they had underestimated how long inflation would last or how high it would rise as the COVID-19 pandemic disrupted supply chains, further set off by the Russian invasion, and coronavirus relief injected more money into the pockets of consumers. In an interview with CNBC in March, Yellen predicted “we’re likely to see another year in which 12-month inflation numbers remain very uncomfortably high.”
Well she's not a prophet and she certainly does not have a crystal ball where she could see that not only there would be a covid-induced reduction in productivity but there would also be a war by a major energy-producing nation that would directly result in a tremendous hike-up in energy price that would impact prices of all things plus a supply-chain disruption caused to man-made draconian covid-19 measures implemented by a government that insists on ignoring science and instead decides to use health measures to play political games. Who could've foreseen there would be a "triple witching" of all of these events combining to create pressure on prices? I mean everybody expected the covid having an impact on productivity but everybody expected that would slowly improve and ease once the economy starts to be re-opened gradually but now the majority of the inflationary pressure is not coming from the tight labour market but from the energy crisis caused by a man-made war and supply-chain disruption by man-made stupidity and political opportunism coming from supposedly a civilized country that the entire world trusted to make the most intimate products that we use every day and that, nobody expected that. So on those notes, I don't blame Yellen. I blame our short-sighted governments and commercialists who put all the eggs in one or too few baskets and didn't bother to do enough risk analysis scenarios.
When money costs you nothing all discipline is lost. This central bank has ZERO discipline. The central bank is crushing the weakest. Regular unleaded gas is now $4.30 a gallon. The average fuel tank capacity is 16 gallons. To fill a tank costs $68.80.... Rent in a rundown 1 bedroom apartment is $720.00 per month. This is so tragic living standards are collapsing for the weakest in society. These very people who voted for Biden. Yet whats the Cebtral Bank doing...absoulity nothing. All they do is talk. This can't go on....sad so sad.