Inflation went above the 2 percent target early in 2021. The Federal Reserve waited a year before raising interest rates.
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| Graph #1: Blue is the interest rate. Tan is inflation. Brown is blue behind tan. |
Why the year-long delay? Clearly, inflation continued to grow worse until they raised the interest rate. Clearly, inflation started to go down soon after the interest rate started to go up. Why the delay?
Was it election interference by Donald Trump?
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