As nearly everyone who can fog a mirror with their breath has offered a prediction about the future course of the U.S. economy, some voices are obviously more highly regarded than others.
Most people will give greater deference to the policy statements of the chairman of the Federal Reserve than your typical teenage TikTok influencer peddling homemade cosmetic products.
But the board of directors of the Federal Reserve — regardless of whether it’s headed by Jerome Powell or Janet Yellen or Ben Bernanke or Alan Greenspan — is not infallible and, unfortunately, can make decisions regarding whether to increase or decrease the nation’s money supply, which may cause the proverbial ship of state to run aground.
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