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The Federal Reserve's data-dependent approach and lack of a robust economic model have left them without a reliable way to predict nominal GDP.
“the Fed actually has no model for economic activity or or the course of nominal GDP. The The only real substantive theory is the quantity theory of money, but they poo-poo that. They they they've thrown it into the wastepaper can.”
Wealthion · Dec 2025 · 1 episode · 46K views on this topicExtracted by a model; may misattribute who said what.