In the News

Mention

When Will Mortgage Rates Come Down? New Timeline for Drop Revealed

"While today's numbers are disappointing, they should not deter the Fed from their planned interest-rate cuts," Groundwork Collaborative chief economist Dr. Rakeen Mabud told Newsweek. "High interest rates won't bring down the high housing and energy costs that are driving the affordability crisis for millions around the country."

April 10, 2024 Newsweek

Mention

Inflation keeps coming in hot, likely delaying interest rate cuts

Still, Lindsay Owens, executive director of the Groundwork Collaborative, a left-leaning think tank, said there’s a disconnect between the parts of the economy that are driving inflation and the parts the Fed is trying to tame through high rates. For example, car insurance claims don’t go down if the Fed keeps rates high, Owens said. Energy costs are often tied to events around the world.

April 10, 2024 The Washington Post

Mention

Parents are struggling with high prices this year. It may shape how they vote

Many Americans say economic pressures — particularly inflation — are key to how they are thinking about this year's election. Consumer prices have remained high in the U.S., even though the job market has been quite stable. For groceries, for example, families are paying 25% more than they were before the pandemic.

April 6, 2024 NPR

Mention

Balance of Power – Another Hot Jobs Report

On this edition, Joe and Kailey speak with: Groundwork Collaborative Executive Director Lindsay Owens following Friday's US Jobs report. United Nations World Food Programme Executive Director Cindy McCain about the program's work to deliver aid into Gaza.

April 5, 2024 Bloomberg

Mention

Corporate profit bonanza

According to an analysis from the Groundwork Collaborative, "corporate profits drove 53 percent of inflation during the second and third quarters of 2023 and more than one-third since the start of the pandemic." In the four decades prior to the pandemic, corporate profits contributed to just 11% of price increases.

April 2, 2024 Popular Information

Mention

‘Let Them Eat GDP Reports’: 44 Million Americans Are Food Insecure

"It's one thing for corporations to pass reasonable increased costs to consumers. It's another for them to line their coffers by exploiting Americans who are just trying to get by," the Groundwork Collaborative's Liz Pancotti said in January, as the group released a related report. "It's time to rein in corporate price gouging—or families will continue to pay the price."

April 1, 2024 Common Dreams

Mention

Adults need to earn $90K to live comfortably in Minneapolis, survey claims

Until the steadily rising costs of the essentials are addressed, the cost of living will keep ticking up for families in Minnesota and around the country, said Rakeen Mabud, chief economist at Groundwork Collaborative, an economic think tank.

March 29, 2024 Star Tribune

Mention

Corporate profits are booming. Biden wants that to be a campaign issue

A recent report from a left-leaning group called Groundwork Collaborative, which is associated with the Massachusetts Senator, calculated that corporate profits drove 53% of inflation from April to September 2023.

March 29, 2024 Yahoo! Finance

Mention

Ways to deal with Seattle grocery store sticker shock

According to a report from the Groundwork Collaborative, a progressive Think Tank, outsized corporate profits are driving more than half of grocery inflation.

March 28, 2024 My Northwest News

Press Release

Groundwork’s Lindsay Owens on Corporate Profits Data

“Even as supply chains have normalized and input costs have fallen, corporations are still padding their profits on the backs of families. Falling inflation has been a welcome sight, but it has more room to fall if corporations stop their excessive profiteering.” Groundwork's Lindsay Owens on new data showing that domestic nonfinancial corporate profits increased $136.5 billion in Q4, compared with an increase of $90.8 billion in Q3.

March 28, 2024 Groundwork Collaborative