Economies are not known for being simple things to untangle. Unlike in the physical sciences, where if you do enough calculations, you can shoot a projectile into an asteroid moving at an incredible speed 7 million miles away, the so-called laws of money deal with the hazier and less predictable forces of group psychology and consumption. That’s why reasonable people can disagree on the proper solutions for runaway inflation that has been hammering U.S. families and eroding away wage gains. Most people can agree that the Federal Reserve’s efforts to end an era of practically interest-free mone…
