All through a Residence of Associates hearing on Wednesday, United States Congresswoman Katie Porter (D-California) grilled Mike Konczal, the director of Macroeconomic Analysis at the Roosevelt Institute, over the main induce of inflation in the write-up-COVID-19 economic system.
Outfitted with 1 of her effortless-to-study, knowledge-loaded posters, Porter bought Konczal to admit that surging company income are forcing American shoppers to pay out substantially extra for merchandise and companies.
“According to this chart, what is the biggest driver of inflation throughout the pandemic? The blue – the dim blue is the current interval,” Porter pointed out.
“It would be company revenue,” Konczal confirmed.
“And what is that proportion?” Porter requested.
“It is 54 percent,” Konczal replied, “and that amount does stay that stage of significant if you update that amount to extra modern figures as nicely.”
Porter questioned if that meant that “over fifty percent of the elevated rates men and women are having to pay are coming from increases in corporate earnings?”
Konczal claimed that it did and that “the device selling price index is mirrored in […]
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