While supply chain problems and high demand may have helped spur inflation early in the pandemic, Rosolino believes there’s another key reason why prices have soared and remained high: Corporate greed.
It’s corporate greed.”Nick Rosolino feels businesses won't lower their prices as long as consumers keep spending.
“Too many corporations raise prices to pad their profits, charging more and more for less and less,” Biden said.
Companies are typically slower to reduce their prices when costs decline than they are to raise prices when their expenses jump.
Corporate profits have contributed to inflation, though experts differ on the extent.
Persons:
Nick Rosolino, Rosolino, there’s, ”, “ It’s, Nick Rosolino Reluctantly, Joe Biden, “, ” Biden, Cookie Monster, Lael Brainard, Goldman Sachs, Neil Bradley, Heather Vargas, ” Vargas, ” Heather Vargas, Heather Vargas Vargas, –, Kellogg, Gary Pilnick’s, Companies haven’t, Aaron Hackman, McKinley Conner, Aaron Hackman “, Hackman
Organizations:
CNN, America, White, Economic Council, Federal Reserve, Companies, Federal Reserve Bank of Kansas City, US Chamber of Commerce, of Labor Statistics, “
Locations:
Maine, New Gloucester , Maine, Portland, Heights , California, Fort Lauderdale , Florida