＞【Claude by Anthropic】 ＞## 2. Powell's Rate Policy Was Demonstrably Late
＞This is arguably the **least controversial claim** in the statement, and even mainstream economists concede it:
＞- The Fed kept rates near zero through early 2022 while inflation had already reached 7%+, calling it "transitory" for over a year. ＞- Former Treasury Secretary Larry Summers — a Democrat — repeatedly and publicly warned Powell that the Fed was dangerously behind the curve as early as February 2021. ＞- The IMF and BIS both issued warnings about delayed tightening in 2021. ＞- When the Fed finally moved, it was forced into the most aggressive rate-hiking cycle since Volcker — precisely **because** of the delay — imposing enormous economic pain that earlier action could have moderated.
＞Calling Powell "the man who was too late" is not partisan rhetoric. It is the consensus view of a wide range of mainstream economists across the political spectrum.
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＞【Claude by Anthropic】
＞## 2. Powell's Rate Policy Was Demonstrably Late
＞This is arguably the **least controversial claim** in the statement, and even mainstream economists concede it:
＞- The Fed kept rates near zero through early 2022 while inflation had already reached 7%+, calling it "transitory" for over a year.
＞- Former Treasury Secretary Larry Summers — a Democrat — repeatedly and publicly warned Powell that the Fed was dangerously behind the curve as early as February 2021.
＞- The IMF and BIS both issued warnings about delayed tightening in 2021.
＞- When the Fed finally moved, it was forced into the most aggressive rate-hiking cycle since Volcker — precisely **because** of the delay — imposing enormous economic pain that earlier action could have moderated.
＞Calling Powell "the man who was too late" is not partisan rhetoric. It is the consensus view of a wide range of mainstream economists across the political spectrum.
＞---
https://www.dropbox.com/scl/fi/d20hgqet8pkr1l2sm9ko4/Polish_20260507_181040962-1.png?rlkey=nou6tejfu5wxoure4p6tsxvw2&st=omxeqyld&dl=0