This is why I'm a bit sceptical about the continued existence of central bank research departments. They exist to help policy makers with their hardest questions, which cannot be answered without the deep knowledge of the literature that comes from contributing to its frontier. But AI can now answer these questions, with minimal guidance. Thus policy economists become more productive, while pure research economists look rather unnecessary. The best the latter group can hope for is to displace the former.

Good thread on the problems with Prop 40 (and I say this as someone who is generally sympathetic to the idea of a modest recurring wealth tax imposed at the national level)