The truth is workers are inflation’s main victims. Workers may see their nominal pay (pay unadjusted for inflation) increase while the Fed-produced price increases cause real wages to plummet. That is certainly the case today. In contrast, the Federal Reserve’s money creation benefits crony capitalists who receive the new money created by the Fed before the injection of new money causes prices to rise. This increases the elite’s purchasing power, furthering income inequality.
http://ronpaulinstitute.org/archives/featured-articles/2022/february/21/the-federal-reserve-enemy-of-american-workers/?source=patrick.net