Is a recession coming? The Fed has made it invevitable
bloomberg.com
bloomberg.com
The recession hurts rich people more than poor people, at least in absolute terms. It resets the economy by a few years. Which is reasonable, because the economy has been advancing too fast for too long, driven in part by the Fed giving away money.
A recession was inevitable even without that. It's surprising we got this far in the pandemic without one. And oil spikes caused by war and sanctions will also provoke a recession. So it's not a great time to have a recession, and the Fed will keep an eye on that, but their top priority is to keep inflation under control, not to advance the GDP.