Every central bank failed to predict inflation from covid stimulus, or thought that the risk of inflation was worth taking to prevent economic collapse.
More targeted stimuli might have helped the longterm inflation figures and it might have made more sense doing that in hindsight. However it is hard to tell what problems might have arisen if they had taken that route at the time.
Doesn’t matter what other central banks did or what other people did, as an economist, he must know what causes phenomenon. His failure shows he does not understand causation of inflation, whether in a Keynesian sense or classical definition of the word. That is like a car mechanic who has no idea how to fix your car, because he doesn’t know what the problem is.
I would take economics from a professor who failed to predict inflation during COVID lockdowns with a grain of salt.
Every central bank failed to predict inflation from covid stimulus, or thought that the risk of inflation was worth taking to prevent economic collapse.
More targeted stimuli might have helped the longterm inflation figures and it might have made more sense doing that in hindsight. However it is hard to tell what problems might have arisen if they had taken that route at the time.
Doesn’t matter what other central banks did or what other people did, as an economist, he must know what causes phenomenon. His failure shows he does not understand causation of inflation, whether in a Keynesian sense or classical definition of the word. That is like a car mechanic who has no idea how to fix your car, because he doesn’t know what the problem is.