> but it is the case that extremely poor people with no savings barely feel [inflation], while rich people will see some of their money (money in checking accou

> but it is the case that extremely poor people with no savings barely feel [inflation], while rich people will see some of their money (money in checking accounts, savings accounts, etc) lose its value. Poor people's wages don't necessarily increase as fast as the cost of things that they buy. If their wages fall behind, they lose. BTW - "rich people" don't keep an appreciable fraction of their money in checking and savings. They keep their "cash equivalents" in things that have higher yields during times of inflation. (I think that TPS bond funds already exist, providing both liquidity and the inflation-protection of TPS bonds.) Money market interest rates were fairly high during the last time of significant US inflation.