Mish gets another one right

Mish has always harped that income inequality come from Fed favoritism, now we hear that a B of A report confirms:

David Dayen: BofA/Merrill Lynch Analyst Says QE and Housing Policy Boosting Inequality

But we have to wonder just how bad this outcome is. Who has benefited and who has suffered from the policy decisions in housing and monetary policy over the past few years? According to a remarkable little report from mortgage-backed securities analysts at Bank of America Merrill Lynch, “the cost burdens are disproportionately impacting low-income groups and renters.” (You could probably have guessed that one yourself.)

The report mentions housing stimulus raises rental costs for the poor. The report also mentions first access to money. Fed, in cooperation with Congress, is hammering the middle class. Whodathunkit?