It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy...What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.
The Wealth Of Nations, Book IV Chapter II, pp. 456-7, paras. 11-12.
I'd love to expect "...cooler heads to prevail..." and I think, left to his own devices, Powell would b a cooler head. But the current President throws tantrums when people disagree with him, and one of those people right now is Chairman Powell. Being stuck on blaming the Fed Chair won't move the collective needle forward.
Sage advice from Adam Smith:
It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy...What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.
The Wealth Of Nations, Book IV Chapter II, pp. 456-7, paras. 11-12.
I'd love to expect "...cooler heads to prevail..." and I think, left to his own devices, Powell would b a cooler head. But the current President throws tantrums when people disagree with him, and one of those people right now is Chairman Powell. Being stuck on blaming the Fed Chair won't move the collective needle forward.