[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Steve Hou [@stevehou0](/creator/twitter/stevehou0) on x 30.7K followers Created: 2025-07-25 10:51:58 UTC The Fed is a national treasure and the envy of the world. Apart from making monetary policy decisions and financial regulations, it’s a world premier economic and financial research institution. The Fed employs over XXX economists incl XXX at the Fed Board in DC and XXX at the regional Feds. It’s first in class not just among world central banks and other research institutions, but its researchers count among the world’s top scholars like a top research university economics and finance depts. Most of the people that criticize the Fed day in day out have no idea what they are talking about. They don’t write down models nor analyze the data, or even know how to when given data. Plotting a spurious time series and making an ideological declaration isn’t serious research, which is usually what one sees on this platform - esp among Wall Street practitioners who tend to have a rosy self-estimation of their own prediction track record. To them the Fed is always blowing it and if only they could be put in charge, they could’ve made all the right decisions in real time all by themselves armed with a few FRED and BLS charts. Ofc that’s all nonsense. The reality is that the Fed is a national treasure and the envy of the world. And it’s being trashed alongside other prized assets of the US like the NSF and the national parks, facing calls of so called audits and budget cuts. Penny clever and pound foolish. Some question “what has the Fed accomplished and why do they need XXX economists”. I roll my eyes hard. XXX is a small number to study and understand the extremely complex, multifaceted and constantly evolving beast that’s the US economy. We are all end users and beneficiaries of the great research carried out by the Fed economists, which includes much more than pure academic research but often specific policy research and data gathering and cleaning. From the perspective of amateurs any field’s experts look unimpressive these days if one only focuses on the errors and has no sense of scientific outcome assessments. Heck, I mean what do doctors do? They get diagnoses wrong all the time! By launching this robust defense of the Fed, I certainly don’t mean that the Fed as an institution is perfect and there’s no room for improvement and efficiency gains. There are ofc and policy mistakes were made. But those that fundamentally question the Fed’s usefulness or existence now are often either bad-faithed or came with ideological prejudice. Monday quarterbacking is all too easy when it comes to criticizing the Fed on Wall Street. And now the political hacks in DC are doing it too only in even more ignorant fashion. Ostensibly they care about government efficiency, when in reality it’s just political grifting in the golden age of grift. XXXXXX engagements  **Related Topics** [fed](/topic/fed) [federal reserve](/topic/federal-reserve) [Post Link](https://x.com/stevehou0/status/1948697730999542008)
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Steve Hou @stevehou0 on x 30.7K followers
Created: 2025-07-25 10:51:58 UTC
The Fed is a national treasure and the envy of the world. Apart from making monetary policy decisions and financial regulations, it’s a world premier economic and financial research institution. The Fed employs over XXX economists incl XXX at the Fed Board in DC and XXX at the regional Feds. It’s first in class not just among world central banks and other research institutions, but its researchers count among the world’s top scholars like a top research university economics and finance depts.
Most of the people that criticize the Fed day in day out have no idea what they are talking about. They don’t write down models nor analyze the data, or even know how to when given data. Plotting a spurious time series and making an ideological declaration isn’t serious research, which is usually what one sees on this platform - esp among Wall Street practitioners who tend to have a rosy self-estimation of their own prediction track record. To them the Fed is always blowing it and if only they could be put in charge, they could’ve made all the right decisions in real time all by themselves armed with a few FRED and BLS charts.
Ofc that’s all nonsense. The reality is that the Fed is a national treasure and the envy of the world. And it’s being trashed alongside other prized assets of the US like the NSF and the national parks, facing calls of so called audits and budget cuts. Penny clever and pound foolish. Some question “what has the Fed accomplished and why do they need XXX economists”. I roll my eyes hard. XXX is a small number to study and understand the extremely complex, multifaceted and constantly evolving beast that’s the US economy.
We are all end users and beneficiaries of the great research carried out by the Fed economists, which includes much more than pure academic research but often specific policy research and data gathering and cleaning. From the perspective of amateurs any field’s experts look unimpressive these days if one only focuses on the errors and has no sense of scientific outcome assessments. Heck, I mean what do doctors do? They get diagnoses wrong all the time!
By launching this robust defense of the Fed, I certainly don’t mean that the Fed as an institution is perfect and there’s no room for improvement and efficiency gains. There are ofc and policy mistakes were made. But those that fundamentally question the Fed’s usefulness or existence now are often either bad-faithed or came with ideological prejudice. Monday quarterbacking is all too easy when it comes to criticizing the Fed on Wall Street. And now the political hacks in DC are doing it too only in even more ignorant fashion. Ostensibly they care about government efficiency, when in reality it’s just political grifting in the golden age of grift.
XXXXXX engagements
Related Topics fed federal reserve