As our @owenslindsay1 said in response to the August jobs report, the Federal Reserve is late to the game.
Chair Powell must deliver a sizable rate cut this month or we are going to be staring down an ugly winter.
Next year, as key provisions of the 2017 tax law begin to expire, Congress must finally deliver a tax code that puts working people first.
Market concentration drives higher prices, stifles equity and innovation, and — as we’ve seen with Live Nation — threatens small businesses at the heart of the arts and our local communities.
Curbing corporate greed and investing in working people will spur economic prosperity.
The August jobs report makes an urgent case for the Fed to finally cut interest rates this month, and @JosephEStiglitz makes the case for a significant interest rate cut:
Today’s report confirms that the Fed is late to the game, and the American people deserve an interest rate cut that will meet the moment.
NEW: In response to the August jobs report, which showed the U.S. economy added 142,000 jobs and the unemployment rate ticked down to 4.2%, Groundwork’s Executive Director @owenslindsay1 reacted with the following statement: http://groundworkcollaborative.org/news/groundworks-lindsay-owens-on-august-jobs-report-chair-powell-needs-to-get-on-with-it/
"Grocery executives were not shy in bragging about how they raised prices and raked in these earnings ... This is Robin Hood in reverse, shareholders’ profits coming straight out of consumer wallets."
More must be done to tackle price gouging.
"The [RealPage] case is important because it highlights the growing use of algorithms to set prices — and the potential for companies that are supposed to be competing to instead coordinate at the expense of their customers" with "price-setting formulas."
Exactly. Price gouging is a choice. Across industries, algorithmic pricing continues to present business leaders with a choice: keep prices high despite cooling inflation or pass savings on to consumers.
Far too often, they've chosen the former. And working people pay the price.
Illegal price fixing? There's an app for that.
RealPage is under fire by @TheJusticeDept for allegedly creating an algorithmic apartment cartel.
But as @BCAppelbaum points out, this case alone won't address the broader issue: landlord consolidation. https://www.nytimes.com/2024/09/03/opinion/realpage-antitrust-landlords.html?partner=slack&smid=sl-share
RealPage boasted to landlords that its tool could help them outperform the market by 3 to 7 percent.
Query how much of our rental inflation—which peaked at 8 percent in 2023—can be attributed to an alleged price-fixing scheme.
You may have heard that public support for unions “has been increasing”—but you probably haven’t heard just how big a deal that is in the context of the last 15 years.
Since the Great Recession, we’ve seen the credibility of, and approval for, just about every major institution…
A Kroger exec explains in court they kept up milk prices even after costs went down.
Q: Then he writes, 'We can hold at 3.99 or go down to 3.79," correct?'
A: Yes.
Q: And then you respond in the top email. Do you see that?
A: Yes.
Q: You write, 'Stay at 3.99,' correct?"
A: Yes.
Today on Labor Day, and every day, we stand in solidarity with workers and union members who've built our nation and powered our economy for generations. And we recommit to building an economy for all — one that delivers true opportunity and prosperity for working people.
