To be fair, the “experts” have been wrong about almost everything the past two and half years. It’s known as the “Suicide of Expertise”.
Georgieva added that economists were more upbeat last October, pointing to high economic growth and COVID vaccinations. But, she said, “we were proven wrong: wrong when Omicron hit, wrong when Russia invaded Ukraine, wrong when during this summer, climate shocks [affected] agricultural productivity,” she explained.
The IMF chief’s mea culpa matches similar admissions from other economists and central bankers that they were wrong about inflation being a passing phenomenon.
IMF head: ‘We were proven wrong’ about inflation (msn.com)
Each time a news story begins with “experts say” or “New study reports”, I skip the article. No need to waste time hearing more experts making nonsensical future projections that will prove wrong, given time.
