We fight to change economic policy and narratives in order to build public power, break up concentrations of private power, and deliver true opportunity and prosperity for all.
Watch VideoAhead of the Federal Open Market Committee meeting next week, a chorus of economic experts, former Fed officials, and pundits are pushing for Chair Powell and his colleagues to cut interest rates from their 23-year highs.
New American Prospect issue, “How Pricing Really Works,” dives into the corporate pricing strategies that are pushing up costs for consumers with algorithms, personalized pricing, and more.
“Congress has a clear runway in 2025 to remake the tax code so it works for the people who drive our economy. The historic group of organizations who penned today’s letter are prepared to hold legislators accountable for ending the massive tax giveaways to the wealthy and corporations and making our tax code more fair. We can start by raising the corporate rate.”
“In the age of corporate concentration and high-powered algorithms, pricing is in the midst of a troubling transformation, and the price tag as we know it may become a relic of the past.” Bilal Baydoun testifies before the Senate Banking Committee at a hearing titled, “Higher Prices: How Shrinkflation and Technology Impact Consumers’ Finances.”
Although inflation has come down considerably from its peak, prices remain elevated, and many Americans report significant levels of concern over high prices for essentials. Recent research from Groundwork Collaborative found that corporate profits drove over 50% of inflation during the second and third quarters of 2023.
Skyrocketing grocery prices in America highlight how precarious our supply chains are, giving corporations ample opportunity to take advantage of consumers in the midst of minor supply shocks and major global crises. Unless we aggressively confront climate change, corporate consolidation, and profiteering, food prices will remain high and continue to climb.
Inflation has come down significantly from its peak over the past year, yet prices remain high for American consumers. As supply chain snarls have receded and the economy has stabilized, businesses continue to pad their bottom lines, rather than passing these savings on to consumers.
Groundwork hosted a webinar on September 15, featuring White House CEA Member Heather Boushey. The speakers highlighted how the COVID-19 recovery stands in stark contrast to the recovery period following the Great Recession.
The swift recovery from the recession caused by COVID-19 stands in stark contrast to the protracted and painful recovery that followed the Great Recession. What can we learn from this tale of two recoveries? Join us for a webinar on September 11 at 1 p.m. to find out.
