The newly minted money is given to: the banks. Who benefits from that new money? The banks! Who benefits from the banks benefiting? The rich! The poor have

The newly minted money is given to: the banks. Who benefits from that new money? The banks! Who benefits from the banks benefiting? The rich! The poor have to pay higher prices and see their raises lag the increased prices. The poor get poorer while the rich get richer. Once your income substantially outstrips your daily need for food, water, shelter, etc inflation hurts you less as you are able to invest. The poor are always behind and thus pay the most for inflation.