[AndrewStephens]

Well duh, that is the whole point of the fed - tweaking the dials to smooth out the peaks and troughs. Sometimes that doesn’t work, or works only after the fact, but the last 70 years or so has been fairly smooth sailing compared to what came before.

[throwawaymaths]

The worst is when it works to smoothen out the peaks but the cost is silently screwing over poor people. So everyone at the top can pat themselves on the back, and people in the middle start blaming capitalism.

[eatonphil]

It's hard to believe the poor were really better off before the 1920s than they are today.

[pas]

how does that screw over poor people?

[imtringued]

The people in the middle never blame capitalism because they want to join the upper ranks and screw poor people over.