> https://news.ycombinator.com/item?id=35260210 https://news.ycombinator.com/item?id=35260210 As I mentioned in that thread, this is an extremely disingenuous

> https://news.ycombinator.com/item?id=35260210 https://news.ycombinator.com/item?id=35260210 As I mentioned in that thread, this is an extremely disingenuous take. The Federal Reserve has no interest in "hurting wage earners." Before the rate hikes, wage earners had already been hurt because inflation was outpacing wage growth. A wage-price spiral would only exacerbate this pain for those who aren't in a good position to switch jobs or negotiate with their employer. Also, "the wealthy" isn't a monolithic group that all have the same interests. People who got rich off of cheap money, like Elon Musk, are asking for the Fed to lower interest rates as well.