> This constant inflation helps to explain much of the rising inequality in the United States, as well as the rising costs for interest-rate-sensitive assets like education and housing.

This goes against my current understanding of inflation. I thought that high inflation benefits _borrowers_ (ie not the upper class) because it reduces the effective interest rate of loans. Is this taking that a step further and saying that the reduced cost of borrowing money actually increases asset prices because of inflated demand, resulting in increased wealth for asset-holders and unobtainable prices for asset-purchasers?