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Michael Strain: Fed raised rates only after inflation reached 8 percent

Michael Strain: Fed raised rates only after inflation reached 8 percent
Fed waited as inflation topped 8 percent

Michael Strain highlights that after the pandemic, the Federal Reserve did not begin to raise interest rates above zero percent until consumer price inflation reached 8 percent.

He points out that this action came a year after the Biden stimulus was signed into law and a year after inflation surpassed the Fed's target rate.

Strain has previously examined tax issues outside of monetary policy. He noted persistent penalties and distortions in the treatment of gambling income under U.S. tax law in a prior analysis. These topics reflect his ongoing focus on fiscal and economic policy measures.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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