Suppose that News Corporation, the owner of the Wall Street Journal, and the investors buying the firm's bonds both expect a $2$ percent inflation rate for the year. Given this expectation, suppose the nominal interest rate on the bonds is $6$ percent and the real interest rate is $4$ percent. Suppose that a year after the investors purchase the bonds, the inflation rate turns out to be $6$ percent, rather than the $2$ percent that had been expected. Who gains and who loses from the unexpectedly high inflation rate?