Economic Elite Find Themselves in the Wilderness

Axios: “Bedrock concepts that economists hold dear — of central bank independence, reliable data collection, and technocratic decision-making — are under threat in ways that have left the global central banking community discombobulated.”

“In formal proceedings at the Kansas City Fed’s annual economic symposium this weekend, there were only the subtlest of references to the Trump administration’s actions that throw Federal Reserve independence and government economic data into doubt.”

“But in whispered private conversations against the stunning backdrop of the Grand Tetons, there was melancholy — a fear that the war for empiricism and independence may already be lost.”