easier monetary policy creates bubbly valuations and probably increases wealth inequality.
but inflation is complicated. a decent number of not-that-rich people are 80+% levered and see debts evaporate, and not that many really rich people are that levered. on the other hand a decent number of not-that-rich people have fixed-income type assets and receivables, pensions etc., rich people tend to have more equity. unexpected inflation increases the risk premium and term premium and tends to reduce real asset values. things like startups and risk equities and long bonds are a bet on a distant future and people don't like to take those big risks when financial conditions are in turmoil. inflation might increase wealth inequality because there are big winners and losers but it might penalize capital so much that it might reduce overall inequality. in a way inflation negates easy monetary policy by canceling its real boost and making it only illusory nominal growth, and plants the seed for higher interest rates and risk premia. big inflationary surprise years like 73-74 and 78-79 were big interest rate surprise years and pretty catastrophic for stocks. capital kind of hates inflation so it's probably not that great for capital. there's also the taxation issue, a lot of inflation gets recognized as income when it's just nominal and not real gains.