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Today, the Bureau of Economic Analysis released new data showing that even as corporate profits – and inflation – have started to ease, total profits rose a whopping 10.42% from 2021.
High prices “are not being driven by excess demand, but are actually being driven by things like a supply chain crisis or war in Ukraine or corporate profiteering,” said Rakeen Mabud, chief economist for the Groundwork Collaborative, a liberal policy…
“Today’s rate hike is a reckless move by Chair [Jerome] Powell and the Fed,” Rakeen Mabud, chief economist with Groundwork Collaborative, a group of progressive economic experts, said Wednesday. “Chair Powell knows that his aggressive rate-hiking campaign has the potential…
“Tanking our labor market is not the way to a healthy economy, is not the way to stable prices,” Ms. Mabud said. “We have an additional imperative this month, which is that aggressive interest rate hikes are exactly what have…
Rakeen Mabud, chief economist at the Groundwork Collaborative, warned Tuesday that another rate increase would be a huge mistake with potentially devastating consequences that will fall most heavily on vulnerable workers. The Fed's own projections indicate that millions of additional…
“Inflation is coming down in spite of the Federal Reserve’s callous rate hiking campaign, not because of it. It’s clear that we do not need to create mass joblessness to bring down prices,” said Rakeen Mabud, chief economist of the…
The Federal Open Market Committee meeting today marks the first time the Federal Reserve will meet following the bailout of Silicon Valley Bank and Signature Bank.
Last week, President Biden called on Congress to take action to strengthen the ability of the federal government to hold senior bank executives accountable.
“Corporate profits have hit their highest level ever, and corporate profit margins — how much they’re making on each unit that they’re selling — have hit the highest level in 70 years,” said Chris Becker, senior economist at the Groundwork…
Inflation is hard on everybody. So why is the Fed making it even harder by helping push people out of work? Stream S2:E9 via Apple TV+.