Strangely†, the Fed actually understands that monetary policy affects the economy weeks to months AFTER the policy change. And that thrashing does nothing good, and probably does bad things to the stock market.
And the covid lockdown payments weren’t about inflation OR deflation, they were an attempt to keep people, but mainly businesses functioning. Which did have the unexpected side effect of giving workers time to (re)consider whether they were willing to work in situations like they had been locked out of.
Strangely†, the Fed actually understands that monetary policy affects the economy weeks to months AFTER the policy change. And that thrashing does nothing good, and probably does bad things to the stock market.
And the covid lockdown payments weren’t about inflation OR deflation, they were an attempt to keep people, but mainly businesses functioning. Which did have the unexpected side effect of giving workers time to (re)consider whether they were willing to work in situations like they had been locked out of.
† /sarcasm