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The general point seems to be that the Fed can only do 1 substantial thing for the economy, raise or lower interest rates. (yada yada quantitative easing, forward guidance)

And interest rates, devoid of any true monetary policy, creates a damned-if-you-do and dammed-if-you-don’t situation for the lower 90% of wealth owners.

The government wasted 10 years of free money by not investing in infrastructure and the clean energy transition. Instead we got 10 years of 1% loans to corporations and billionaires to do stock buybacks. The fed can only lead the horse to water, but if there is a filibuster the horse will never drink.

On a side note: it’s news to me that home values have plunged. A market softening for sure, but a plunge in sale prices? Not in my metro area. Plus a 20% plunge doesn’t mean much when home prices are up 20% yoy