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Kitty Richards Joins Bloomberg TV to Discuss Inflation, Interest Rates

Kitty Richards, Groundwork Collaborative Acting Executive Director, discusses President Biden asking corporations to stop price gouging as inflation comes down, and whether or not he is correct in regards to his message on inflation. She also talks about Fed Chair Jerome Powell, and what she expects the Federal Reserve will do with interest rates next year. Kitty Richards speaks with Annmarie Hordern and Joe Mathieu on Bloomberg's "Balance of Power."

December 1, 2023 Bloomberg

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Biden turns up pressure on corporate ‘price gouging’ as 2024 nears

“Americans are really upset about this: The polling on this is substantial, particularly among independents. Everything suggests this is the right strategy for the White House both substantively and politically,” Lindsay Owens said.

December 1, 2023 The Washington Post

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GDP, corporate profits soar as Biden calls out companies for ‘price gouging’

“Pandemic-era supply chain disruptions enabled corporations to hike prices and juice profit margins to highs not seen in more than 60 years,” Kitty Richards, director of Groundwork Collaborative, an economic research and advocacy group, wrote in an analysis. “Now supply chains have returned to normal, but corporations in many sectors are still charging inflated prices and extracting exorbitant profit margins,” Richards said.

November 30, 2023 The Hill

Press Release

Groundwork Reacts to New Corporate Profits Data

Inflation has fallen dramatically even as the economy grows rapidly and unemployment remains historically low. But today’s corporate profits data show that prices can still fall further even as wages keep rising. It’s time for corporations to bring down prices and share their windfalls with the workers who drive our economy.

November 29, 2023 Groundwork Collaborative

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Groundwork’s Kitty Richards Joins CNBC’s Squawk Box to Jobless Claims Data

"The Fed needs to think, are we responsible for what’s happened in inflation? Or are we actually just driving up the cost of housing and debt for families?"

November 22, 2023 CNBC

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Tenants and Economists Are Pushing to Regulate Rent for a Vast Amount of U.S. Housing

Richards urged government agencies to use their power to regulate rents. “Unlike in Econ 101, where any regulation of what people can charge for their product is going to have the unintended consequence of reducing supply and driving up rents in the long-run, you have power to decide whether they are allowed to exercise it at the expense of tenants,” she said, pointing to members of Congress. “It is a policy choice.”

November 20, 2023 Vice

Press Release

Larry Summers Quietly Changes Tune on Inflation, Admits It’s Transitory

“Larry Summers has spent the past two years weaponizing fears of persistent inflation against American workers and families and our clean energy transition, and deriding the many economists who held a different view. Now, exactly two years after calling for ‘Team Transitory’ to ‘stand down,’ it is not enough for him to simply switch sides without reckoning with the damage these arguments have caused."

November 16, 2023 Groundwork Collaborative

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Investors are thrilled inflation is down. Consumers aren’t so happy. Here’s why.

“It is absolutely true that inflation has fallen rapidly,” said Kitty Richards, acting executive director at Groundwork Collaborative, a progressive economic policy think tank. “(Tuesday’s report) is a really good sign.”

November 15, 2023 MarketWatch

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Law Experts, Tenants Want FHFA Action On Housing Crisis

The Federal Housing Finance Agency was urged at a Wednesday briefing to make immediate efforts to relieve pressure on renters via multifamily loan mandates.

November 15, 2023 Law360

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Groundwork’s Kitty Richards Joins CNBC’s Squawk Box to Break Down October CPI Report

“If you look at the path of inflation, we have rapid disinflation after a peak that was before the Fed’s interest rate hikes really got going. We’ve had that rapid disinflation in the context of a booming economy. Quarterly GDP growth last quarter in real terms was 4.9%, we’ve seen 21 straight months of unemployment below 4% – something many economists didn’t think would be possible."

November 14, 2023 CNBC