>In short, and contrary to the implication of the above comment, inflation benefits banks and corporations (and by extension, the wealthy and powerful), and harms workers and those on fixed incomes.
Yes but going by central bank policy that money isn't supposed to end up in their hands first. The goal of the central bank is to increase consumer inflation. Of course the actions of the central bank don't match their stated goals but this is primarily a policy failure. The rest of the government is supposed to use the cheap money to increase demand for labor through public spending. It's completely failing to do so.
Yes but going by central bank policy that money isn't supposed to end up in their hands first. The goal of the central bank is to increase consumer inflation. Of course the actions of the central bank don't match their stated goals but this is primarily a policy failure. The rest of the government is supposed to use the cheap money to increase demand for labor through public spending. It's completely failing to do so.