You see that the savings rate of the bottom 90%(!) of households, after even going negative in the decade before the financial crisis went negative, and is still essentially zero. Since US households save on average is a little above 5% (see figure below). . This means that basically all the savings come from the top 10% of households, which means that they save far in excess of 5% of their income. This basically means that the Fed policies is hurting the rich and favoring the bottom 90% of households, who are also likely to be more in debt so the Fed’s efforts to get inflation up would also benefit them.
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