It continues to print money at record rates, stealing the value of your dollar.
They first told us there would be no inflation, then they said it would be mild, then they said it would be transitory, and now they say they will get it under control by going to a neutral monetary stance of 2.0-2.5% by years end. That is a stimulative stance, not neutral, and the Fed needs to be in a tightening stance to control inflation.
They are stealing the value of the dollar from the poor. All your wage increases aren't keeping up with your cost of goods.
The Fed is primarily responsible for this inflation and isn't serious about fighting it.
And Blackrock and JPM are loving it. JPM's savings account interest rate is still .01% when the Fed is hiking rates.