"This is an effective way to tear a country apart — and the Fed is trying to cover it up with its ludicrous rhetoric. But politicians in Washington of all stripes – who could stop the Fed’s policies with legislation – are fully on board with the wealth effect because they’re among the primary beneficiaries. And to heck with the bottom 50%. Not even populists on the left or the right, whose base is getting hit over the head on a daily basis by the wealth effect, are decrying the Fed’s policies." On the contrary. Wolf Richter at Wolf Street More here End The Fed...
Fed’s Economy: the “Wealth Effect” and How it Impacts Americans Individually
