In the News

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

Mention

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

Mention

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

Mention

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

Mention

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

Mention

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

Press Release

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

Groundwork’s Acting Executive Director Kitty Richards joined CNBC’s Squawk Box this morning to break down today’s numbers, arguing that inflation is lower even than the headline number shows, the Fed’s interest rate hikes didn’t cause this decline, and that high-interest rates may actually be making life less affordable for workers and families.

November 14, 2023 Groundwork Collaborative

Press Release

ICYMI: Groundwork’s Bilal Baydoun Urges Shift from Rate Hikes to Public Investment in New Op-ed

“To address the true drivers of higher prices, we must bring the concept of inflation back down to earth. Manipulating interest rates can’t make life more affordable for struggling families — but public investment and sound regulations that rein in corporate price-gouging can."

November 9, 2023

Mention

How to Make America More Affordable

“To address the true drivers of higher prices, we must bring the concept of inflation back down to earth. Manipulating interest rates can’t make life more affordable for struggling families — but public investment and sound regulations that rein in corporate price-gouging can."

November 8, 2023 Other Words