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5 things to know about the economy under Biden

“The stuff that matters most to Americans is still often unaffordable, or insofar as it’s affordable, taking up a disproportionate share of their budget and crowding out other spending,” said Lindsay Owens, executive director of Groundwork Collaborative, a progressive research nonprofit.

March 7, 2024 The Hill

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“S” is for “Shrinkflation”: Cookie Monster draws right-wing anger for taking a bite out of corporate greed

A study last year by two progressive think tanks in Britain, reported in Fortune, found that corporate profits increased at a faster rate than costs did. Another study reported in Fortune, from the American think tank Groundwork Collaborative, found that profits drove 53% of inflation during the second and third quarters of 2023, and more than one-third overall since the start of the COVID-19 pandemic, and caused inflation to be 1 to 3 points higher than otherwise might’ve occurred.

March 7, 2024 Media Matters

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Taking on junk fees is popular. But can it win Biden more voters?

The issue of junk fees is more top of mind for voters, said Lindsay Owens, the executive director of left-leaning economic think tank Groundwork Collaborative. Owens said high prices, whether for smaller items like groceries or big-ticket items like housing and child care, are the No. 1 issue for many families when it comes to the state of the economy. But it's not just that prices are high — it's also that they're unfair, she said.

March 6, 2024 NPR

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Powell: Fed needs ‘greater confidence’ before cutting rates

“After 19 months of prices coming down from their peak and over two years of historically low unemployment, it’s clear we didn’t need mass joblessness to lower inflation. The Fed’s rate hiking campaign was deeply flawed,” economist Rakeen Mabud of the progressive Groundwork Collaborative think tank said in a statement.

March 6, 2024 The Hill

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‘Shrinkflation’ Playing Crucial Role in Rising Prices, Corporate Profits: Analysis

"During this period of high inflation, where rising prices are putting a squeeze on household budgets, shrinkflation just adds insult to injury," said Lindsay Owens, executive director of Groundwork Collaborative and author of the report.

March 6, 2024 Common Dreams

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‘Shrinkflation’ Is A Big Reason Why Toilet Paper, Snacks More Expensive Now: Study

About 10% of price increases in recent years come from companies charging the same price -- or more -- for smaller items, a group of economists say.

March 6, 2024 Huffpost

Statement for the Record: The Federal Reserve’s Semi-Annual Monetary Policy Report

Today's economy is a clear repudiation of the theory that mass unemployment is necessary to bring inflation down. Unemployment has been below 4% for more than 24 months and inflation has been falling for more than 19 months off of its peak. All of the evidence suggests that the Federal Reserve must cut rates before they do further harm.

March 6, 2024 Groundwork Collaborative

Press Release

Groundwork’s Rakeen Mabud Ahead of Powell Testimony: “The Fed’s rate hiking campaign was deeply flawed”

With Federal Reserve Chair Jerome Powell scheduled to testify before the House Financial Services Committee and Senate Banking Committee, Groundwork Collaborative’s Chief Economist, Rakeen Mabud, urges Congress to question Chair Powell, stating "The Fed’s rate hiking campaign was deeply flawed."

March 6, 2024 Groundwork Collaborative

Press Release

New Groundwork Report Exposes Shrinkflation’s Role in Rising Prices

Shrinkflation responsible for as much as 10% of inflation in key product categories; Biden expected to address shrinkflation at SOTU.

March 6, 2024 Groundwork Collaborative

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New Rule Under Biden Would Save Americans $10 Billion a Year in Credit Card Fees

"Junk fees, like the excessive late fees credit card companies charge, are yet another tactic corporations use to prey on customers and juice their profit margins even further," said Bilal Baydoun, director of policy and research at the Groundwork Collaborative. "CFPB's new rule demonstrates that policymakers can—and must—take on predatory, deceptive behavior and act as a strong check on corporate power."

March 5, 2024 Common Dreams