The Fed’s “No Billionaire Left Behind” monetary policies are having their intended effect

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In my area, there was a business owner who bought a legacy local business pre-covid. They had a bunch of revenue and loyal patronage. Come 2023, and it was time to refinance the business/property loan. Turns out his entire budget was based off of low interest rate payments for his debt. He did not have foresight to make his business more efficient……. and he is now no longer the owner of the business or property.

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Gee, ya think this has anything to do with spiking inflation?

h/t Simian_Stacker