Hubris Runs Rampant at the Fed
In a recent interview with 60 Minutes, Fed chairman Jerome Powell gave assurances that the US banking system is sound. Ben Bernanke also claimed almost twenty years ago that real estate markets were not overextended. The hubris must be in the water at the Eccles Building.
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Like Orwell‘s famous statement from Animal Farm, “All animals are equal, but some animals are more