Inflation is taking off across the country, with prices up 5% in May compared with a year ago and the US recording its highest rate since 2008. Everything costs more, and many Americans are worried about whether inflation is simply a temporary, post-COVID phenomenon, or a sign of deeper economic issues.

AEI scholar Michael Strain joined the show to discuss the causes behind rising prices, the Fed’s response, and how government stimulus during the pandemic has shaped economic policy. Marc, Dany and Mike also talked about how to take on long-term problems facing the American economy.

Michael Strain is the Director of Economic Policy Studies and the Arthur F. Burns Scholar in Political Economy at AEI. Before joining AEI, he worked in the Center for Economic Studies at the US Census Bureau and in the macroeconomics research group at the Federal Reserve Bank of New York.

Download the transcript here.