Professionals—doctors, scientists, economists—get into trouble when they oversell what they can do, and the Fed's troubles are largely self-inflicted wounds from overpromising; it would be in the Fed's own self-interest to retrench and tell the public this is what you can reasonably expect, but once public trust and credibility are severely damaged the path is downward rather than back up.

causalpending

Speaker

Michael Belongia

Evidence Quote

all of the professions and individuals in those professions get into trouble when you oversell what you can do

Source

Michael Belongia on the Fed 01/11/2010EconTalk
Created: 6/15/2026, 9:37:51 AM

My Notes

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