The Federal Reserve, by its own admission, made a mistake by initially characterizing inflation as transitory when it turned out to be more persistent, driven by factors like COVID and supply chain interruptions that lasted longer than expected.
factualpending
Speaker
David RubinsteinEvidence Quote
“the Federal Reserve uh by its own admission uh made a mistake they thought that the inflation rate when it was high was transitory it turned out not to be quite as transitory”
Source
David Rubenstein, Billionaire Investor Who Hired Jay Powell, On What Makes A Great Investor— Forward GuidanceCreated: 8/11/2026, 12:59:58 AM
My Notes
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