OP-ED: Policy mistakes past and future? Fed on dangerous ground

The eyes of the market are fixed on the Federal Reserve as it tries to corral inflation. When inflation first appeared in the fall of 2021, Fed Chairman Jerome Powell said it was transitory, even when consumers dealing with the ubiquitous rising prices of necessities knew better. In the last month of 2022, nonfarm payrolls increased by 223,000 11.5 percent…