Fed minutes: How interest income creates a problem for Fed tightening

Federal Reserve Minutes released today show confidence in the US economy's improving growth. They also showed confidence that inflation would drift toward the Fed's target of 2%. As a result, they reinforce the view that the Federal Reserve will continue to raise interest rates as forecast, in order to tighten monetary conditions. There's one problem: interest income.
Interest income
I think the interest income channel is an overlooked conduit of Fed monetary policy into the economy. And so, now...

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