Why do govts raise interest rates to slow the economy instead of tax rises?

Question

With interest rate rises, the people in the most debt suffer the most. With tax rises, the highest paid suffer the most, and the govt has extra revenue to help the ones struggling the most. This is never considered by any govt. Why not?

In: 1129

Answer 1

Taxes are politically unpopular and Congressmen are constantly worrying about reelection. The people who control the Fed and set interest rates are appointed to those positions and don’t have to worry what the voting public thinks of them.