A recent Bloomberg report looked at the stark disconnect between Fed policy and well, everybody else but banks and the 1%.
While the Fed sees low inflation as "one of the major challenges of our time," Shawn Smith, who trains some of the nation's most vulnerable, low-income workers stated the obvious: people don't want higher prices. Smith is the director of workforce development at Goodwill of Central and Coastal Virginia.
In fact, he said that "even slight increases make a huge difference to someone who is living on a limited income. Whether it is a 50 cents here or 10 cents there, they are managing their dollars day to day and trying to figure out how to make it all work.'' Indeed, as we discussed yesterday, it is the low-income workers - not the "1%"ers, who are most impacted by rising prices, as such all attempts by the Fed to "help" just make life even more unaffordable for millions of Americans.