On any given day, Groundwork's analyses, op-eds, reports, and commentary are featured in leading publications and on the most influential news programs and podcasts.
Today at 4 p.m. ET, Groundwork Collaborative will host a virtual press briefing with leading economic experts reacting to Federal Reserve Chair Jerome Powell’s speech and the FOMC’s policy decision.
As 2023 closes with both inflation and unemployment under 4%, we can finally put a dangerous macroeconomic myth to bed. You don't fight inflation on the backs of American workers.
Kitty Richards, former President Biden Treasury official, and Mick Mulvaney, former White House chief of staff and Actum Strategic Advisors co-chair, join 'Squawk Box' to discuss the debate over a potential wealth tax, whether the wealthy in the U.S. should pay their fair share in taxes, whether IRS funding cuts should be tied to any potential aid package for Israel and Ukraine, and more.
Tomorrow’s jobs report could mark the 22nd straight month that the unemployment rate sits below 4%. This is a tremendous achievement for an economy that just three years ago was in the throes of a global pandemic and recession. But continued progress requires continued investment.
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."
“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.
“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.
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.
"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?"
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.”