Fed’s Jerome Powell Blames Americans Not Getting Vaccinated Enough for His Inflation Crisis

MODERATOR Chair Powell Mr ░░░░░░░░ was talking about a ░░░░░░░░ box What s your ░░░░░░░░ box Is there something ░░░░░░░░ you wish you knew ░░░░░░░░ would help in setting ░░░░░░░░ policy only one thing ░░░░░░░░ Yeah You know I ░░░░░░░░ go back to the ░░░░░░░░ thing really which is ░░░░░░░░ did we what did ░░░░░░░░ get wrong And that ░░░░░░░░ was looking at these ░░░░░░░░ side issues and believing ░░░░░░░░ they would be resolved ░░░░░░░░ quickly And that by ░░░░░░░░ I mean there was ░░░░░░░░ to be there there ░░░░░░░░ going to be vaccinations ░░░░░░░░ would get vaccinated So ░░░░░░░░ millions of people who ░░░░░░░░ out of the labor ░░░░░░░░ would come right back ░░░░░░░░ So wages wouldn t ░░░░░░░░ under such pressure That ░░░░░░░░ t happen For a ░░░░░░░░ of reasons it didn ░░░░░░░░ happen In addition the ░░░░░░░░ bottlenecks and the shortages ░░░░░░░░ t been alleviated yet ░░░░░░░░ then on the back ░░░░░░░░ that comes the new ░░░░░░░░ in the form of ░░░░░░░░ war But so we ░░░░░░░░ it wasn t it ░░░░░░░░ t something wrong with ░░░░░░░░ models because it wasn ░░░░░░░░ in the models at ░░░░░░░░ it was it was ░░░░░░░░ question of how to ░░░░░░░░ the persistence of these ░░░░░░░░ side shocks And I ░░░░░░░░ do think that there ░░░░░░░░ be to this point ░░░░░░░░ will be and there ░░░░░░░░ a lot of work ░░░░░░░░ on to get smarter ░░░░░░░░ the supply side In ░░░░░░░░ nature of it though ░░░░░░░░ was a deep in ░░░░░░░░ tail kind of a ░░░░░░░░ and those are those ░░░░░░░░ very hard to predict ░░░░░░░░ assess when they come.”