Possession of high intelligence alone is probably an overrated virtue (gift?). Just because someone can retain and process new information at much higher rates than ordinary mortal men or women does not make them invulnerable to their own narration biases. Most folks tend to believe what they want to believe. They overweight evidence or opinions which support their original convictions while discounting or ignoring contrarian thoughts. That is narration bias.
Then, there is also the success paradox where people who are really good at one thing, begin to assume that they are also really good at all things. Consider NBA all-star and billionaire, Lebron James. Now try to imagine James offering serious legal or medical counsel to someone and you can begin see some potential problems with whatever Mr. James might say.
How does all of this apply to Secretary of Treasury Janet Yellen? It just means that President Biden might like to have a few differing economic opinions in the room before he decides to write any checks relating to price caps and price controls...whether it be about Russia or otherwise. Sometimes really bright, experienced, and balanced people can get things really, really wrong, despite their best efforts to do their best. That is life in a nutshell.
