Nothing the Fed does affects only taxpayers. The Fed exists for one reason -- and one reason, only. To print money.
The Fed will relieve banks of the risks they took, but the burden won't fall only on taxpayers. It will fall on anyone who holds dollars. Inflation, it's the real flat tax.
No government ever pays it’s debts.They use inflation instead.
“Inflation, it’s the real flat tax.”
I’ve always thought of it as “regressive”, it strikes hardest at those who spend most of their income at retail and don’t have money to invest in inflation hedges. Am I missing something?