This was an article from February, with CNBC conceding that Biden "misread" the inflation threat: https://www.cnbc.com/2022/02/04/how-...on-threat.html

Remember in 2021 when Biden was insisting first that inflation wasn't happening, and second that it was short-lived, and only driven by the cost of used cars (lol)?

Hassett was part of a trio of former White House economists, including Clinton Treasury Secretary Larry Summers and Obama CEA chair Jason Furman, who warned early in Biden’s term that inflation was afoot, when the government was more concerned with Covid. They parsed different data but arrived at the same conclusions: Trillions in stimulus spending being plowed back into the economy when companies couldn’t produce enough of what consumers wanted would drive prices higher.
Ya think?

Remember when Republicans were saying this, and all Democrats could do was keep pumping more free money into the post-vaccination economy?

This turned out to be the biggest and most easily preventable blunder of modern times. The stagflation of the late '70s and early '80s was a result of a complex set of circumstances which weren't particularly easy to see in advance. This was super predictable, and Biden did it anyway.

The article also describes that current members of the White House staff are former Fed/Treasury employees, leaving too little room for independent thinking or criticism or independent thinking.

The other problem, of course, is that Biden himself isn't in control. He's a doddering old fool who barely knows what month it is. He isn't capable of making real decisions anymore.

What a fail.