Noted: NO apology from the US & UK central banks hiking rates, for their own reckless monetary policies that have fulled high inflation. A STEALTH TAX, hitting the poorest the hardest.
Lots of blaming of/ reference to the pandemic and the Russian war on Ukraine by central banks having to hike interest rates to tame runaway inflation.. yet absolutely no apology or accountability for their own reckless policies and wrong projections and forecasts.
Federal reserve chairman Jerome Powell spoke at length on the interest rate hikes they're now having to apply to stem runaway inflation, but there was a notable absence of apology for their hand in helping create it!
Meanwhile today, despite runaway inflation being a major factor PRIOR to the war.. the Bank of England have been careful to mention it several times in their statement on their rate hike.. no apology though for their hand in it…
https://www.bankofengland.co.uk/monetary-policy-summary-and-minutes/2022/march-2022?sf162230440=1
Their duty is suppose to target and achieve 2% inflation factoring all current economic factors and neither of them.. or other central banks with reckless monetary policies are even close to targets set.
We all called it.
The money printing memes and jokes were rife throughout the pandemic it was so laughable.
Many, particularly in the crypto community warned of the inflation aftermath these reckless policies would result in.
Yet not one fucking apology, resignation or sacking of a generally unelected central banker.
Apologies for the language.. but its absolutely fucking disgraceful.
What's also disgraceful is much of mainstream media not highlighting it and calling them out.. not one journalist have asked the central banks to apologise not even for being wrong.. but wildly irresponsible and inaccurate.
Sadly, today's reality of high inflation and low wage growth is a direct stealth tax, hitting the poorest of society the hardest… not theses elite bankers on their elevated pay packets.
Jerome Powell and Andrew Bailey… these are indeed challenging times for which central banks are rewarded with large pay packets for successfully navigating.. yet so far your consortium of elite bankers have not only been wrong, you've been grossly wrong which is now hurting many families and will continue to do so for the foreseeable future. How about an apology?
submitted by /u/jam-hay
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