Officials are trying to understand why consumer spending, the job market and overall growth have not responded to the most aggressive interest rates in decades.

  • surewhynotlem@lemmy.world
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    1 year ago

    Economics 101 is like physics 101. It only makes sense in a vacuum, with no friction, and no vibration. Or to put it in economics terms, it only works with perfect consumer knowledge, no barriers to entry, and if the future is accurately predicted by the past.

    So yeah, voodoo.

    • SCB@lemmy.world
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      1 year ago

      And as everyone knows, no actual economist learns anything more than econ 101