And as Fed policy creates endless artificial booms, and limits recessions, they reduce the possibility of equalization and creates a continuous money transfer m

And as Fed policy creates endless artificial booms, and limits recessions, they reduce the possibility of equalization and creates a continuous money transfer mechanism from poor to rich, as they note: "There is a good chance that the redistributive effects do not average out because business cycles are known to be asymmetric —expansions tend to be long and moderate, while recessions tend to be short and sharp." And recessions are short and sharp precisely because the whole modus operandi of the Fed is to shorten recessions and lengthen expansions. So it's admitting its (inherently inflationary) core policy thesis makes the rich richer and the middle-class poorer.