Powell’s House of Cards: Inflation, Unemployment, and Fed Independence Are All Collapsing at Once

Jerome Powell’s walking into Jackson Hole this week with a briefcase full of problems—and no real solutions. According to economist Mohamed El-Erian, Powell now faces a perfect storm: stubborn inflation, a weakening job market, internal Fed division, and the slow-motion collapse of the Fed’s credibility. But here’s the kicker: Years of central bank manipulation, political interference, and blind faith in outdated models caused this. We’re watching the consequences of years of central bank manipulation, political interference, and blind faith in models that fail to reflect the real world. And it’s why you and I have to be paying attention—not to what Powell says, but to what’s happening behind the curtain. Jackson Hole or Black Hole? El-Erian—one of the few mainstream…