The Fed's Disconnect With Reality... And Readers Weigh in on PBMs and Drug Pricing
?It's a question you hear over and over again...
Is the U.S. Federal Reserve out of touch with the average American?
There may be something to it, at least based on my first-hand experience...
This was years ago – many years, in fact (back in the late 1980s) – but I'm willing to bet it's still true today... (You can read the rest here.)
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Senior Equity Research Analyst at Picton Mahoney Asset Management
2 年In 2011 Bill Dudley, the president of the NY Fed, provided the seminal Fed is out of touch moment when he gave a speech in Queens when food prices were up. He was trying to explain inflation - "Today you can buy an iPad 2 that costs the same as an iPad 1 that is twice as powerful. You have to look at the prices of all things" The response from an audience member: "I can't eat an iPad" https://news.yahoo.com/news/blogs/lookout/fed-official-heckled-t-eat-ipad-20110311-122230-439.html