Of course, the direct implication here is also very clear, if very sad: the rich who can afford college, will end up becoming even richer thanks to the better-paying jobs their degree affords them, while everyone else will either drown under the weight of student loans, or simply be relegated to far less-paying jobs during their career. And while the Fed can be confused about this conclusion, not even the Fed is confused that it itself is the reason for this record and increasing disparity between rich and poor.
So the next time you curse someone for making college so expensive you need hundreds of thousands in debt to pay for it, or are cursing the fate that made you into a 40+ year old debt slave, aim those curses where they belong: Alan Greenspan, Ben Bernanke and now, obviously, Janet Yellen. Because for all the "confusion" about America's record wealth divide that French socialists have to reprise the role of Karl Marx in the process selling blockbuster books to a new generation of pre-communists, the fundamental reason for the greatest class divide in history is a very simple three letter word: the Fed.
I'm guessing that the Progressive gravy train crashes spectacularly.