'The verdict is in: we don't have to choose between low prices and low unemployment. We can have both,' said one economist.
during the pandemic helps explain persistently high inflation in the U.S. and across the globe, mainstream publications such ashave determined that progressive economists were right to emphasize big business pricing power as a significant culprit.last week. "According to economists at the [European Central Bank], businesses have been padding their profits. That, they said, was a bigger factor in fueling inflation during the second half of last year than rising wages were.
Major companies have used the windfalls from their price hikes to reward investors. The watchdog group Accountable.US noted in areleased Wednesday that Mondelez, which owns Belvita and Chips Ahoy!, "saw a shocking 142% increase in quarterly earnings after announcing price hikes, which empowered it to spend $928 million in dividends and stock buybacks for their wealthiest shareholders."
"It shouldn't come as a shock that Chair Powell’s actions have eroded public trust in the central bank."released Tuesday showed that just 36% of U.S. adults have either a "great deal" or a "fair amount" of confidence in Powell, a former private equity executive first nominated to the Fed chairmanship by former President Donald Trump.
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