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But the truth is that no one knows.Put all these factors together and it is clear that the central bank is faced with massive uncertainties.
Regime change may come because of the large cost and massive uncertainties this will inevitably produce, though, Madame President, this should be the last resort, not the first resort.
There are massive uncertainties on climate change, yes - but the balance of evidence is absolutely clear that the climate is warming; that CO2 is to blame; that anthropogenic emissions (plus, increasingly, sink failure) are responsible for causing the rise in CO2 concentrations; and that we need to stabilise concentrations below 450 parts per million.
Posner accurately points to massive uncertainties that make predicting far-in-the-future economic conditions difficult.
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It means massive uncertainty for economic operators".
These minutes further underline the massive uncertainty the economy faces".
"But today is an era of massive uncertainty," he said.
"And there is going to be massive uncertainty in the financial industry about how all of this will play out".
Failure to do so would cause massive uncertainty at a time when we need to be rapidly moving ahead towards a renewable-energy-based economy".
Trump has promised to repeal the Affordable Care Act – Obamacare – which would cause massive uncertainty in the sector and a probable fall in the number of people insured.
A few days before Christmas, Vince Cable, the business secretary, said: "It would create further massive uncertainty to reopen the whole bank reform agenda at this stage".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com