Contempt for the middle class

Required reading:
The princess's cake gets an added crunch - Wolfgang Münchau (Financial Times)
Response: Contempt for the poor - Free Exchange (the Economist)

Position:
It's amazing how much life certain economic models get from their political expedience. The popular fiction of the Phillips curve often serves to remind us that attempts to question systemic inflation will not be tolerated. As is only human nature, public reasoning rarely precedes private decision making.

The median annual income in the United States is less than 40,000 USD. The median family has next to zero equity. Yet Wolfgang Münchau has hit on something in his statement on inflation ("Higher inflation is the transfer of wealth from the poor to the middle classes.") - the winners in the middle and upper classes are in the minority, far above median levels of income and wealth. Of inflation's effect on the relative poor the Fed may not be ignorant, but in choosing to benefit a small but well-connected minority they most certainly are insensitive.