Thanks to the Fed: The middle class at large has gotten screwed over the past few decades as wealth gains have predominantly benefitted the top 1%.

https://twitter.com/NorthmanTrader/status/1641128176687480832
https://twitter.com/NorthmanTrader/status/1641131698665537539

When the Fed first announced QE in March 2009, QE was intended as a cyclical tool: asset purchases would provide additional stimulus at the ZLB, but asset sales would later withdraw that stimulus. That last part never happened. QE is a one-way street. We only buy. We never sell. pic.twitter.com/FLgWG66YNs

— Robin Brooks (@robin_j_brooks) March 29, 2023

Truly a remarkable disparity pic.twitter.com/0PplwofIIa

— Markets & Mayhem (@Mayhem4Markets) March 29, 2023