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Search resuls for: "Greedflation"


5 mentions found


☆ Economists and policymakers were fretting about a wage-price spiral. Not any more
  + stars: | 2023-04-21 | by ( Jenni Reid | ) www.cnbc.com   time to read: +8 min
The experts were worried about a so-called wage-price spiral. Businesses' revenues "have risen faster than costs, and so margins have room to absorb rising labor costs." "It's not that a wage-price spiral couldn't happen, but it's low on the list of concerns versus the factors we know are problematic," she said. A key mechanism that would fuel a wage-price spiral, workers' bargaining power, has been weakened because unions have less power than in the 1970s, Makszin added. "But if you let interest rates go down against inflation and in effect weaken, you have an inflation spiral.
☆ Premarket stocks: How big of a problem is greedflation?
  + stars: | 2023-03-29 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +9 min
“Executives at SVB and Signature [Bank] took wild risks and must be held accountable for exploding their banks,” Warren said. Republican Senators say the Fed’s focus on climate change led to banking turmoilRepublican Senators repeatedly insinuated on Tuesday that the recent US banking turmoil came as a result of the Federal Reserve’s focus on climate change. In his opening statement, Republican Sen. Tim Scott of South Carolina, the ranking member of the banking committee, called the Fed’s focus on climate change a waste of time. It’s what our supervisors do all the time.”In an interview with Montana Public Radio in 2014, Daines said that “the jury’s still out” on whether climate change is real. The public reasonably expects supervisors to require that banks understand, and appropriately manage, their material risks, including the financial risks of climate change.”
☆ Greedflation: 'Entirely possible' that food brands are profiteering from price hikes, says Tesco chairman
  + stars: | 2023-01-24 | by ( Karen Gilchrist | ) www.cnbc.com   time to read: +1 min
Consumers have been feeling the pinch from higher food prices as inflation soars. The chairman of Tesco, one of Britain's largest supermarket chains, said Sunday it was "entirely possible" that some food firms are profiteering from inflation at the cost of some of the poorest consumers. Tesco has created a team to monitor food input costs against price rises and is challenging companies it believes are lifting prices disproportionately, Allen said. Tesco told CNBC that it was unable to provide further comment. Food suppliers have hit back at the claims.
☆ Companies raising prices to get ahead of skyrocketing costs was one of the biggest drivers of surging inflation, a new study shows
  + stars: | 2023-01-18 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com   time to read: +5 min
Over the past two years, soaring inflation has hit Americans in their wallets. Some pointed to soaring inflation as a byproduct of corporate greed, as firms took advantage of the economic environment to rake in record profits. Even across industries that had "very different relative demand and inflation rates" throughout 2021, markup growth remained pretty much the same. Throughout 2021, companies saw their profits soar, pocketing their highest margins since December 1950. They added that "this suggests that the source of high markup growth in recent years was not a steady increase in monopoly power."
☆ The window is closing on corporate 'greedflation.' It's another sign that inflation is cooling off.
  + stars: | 2022-11-24 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com   time to read: +7 min
"US profit margins surged after the recession. "Greedflation" — the idea that companies are using inflation as an excuse to raise prices and boost profits — could be part of the explanation. But they have also taken advantage of circumstances to expand profit margins," said UBS Chief Economist Paul Donovan. To what extent soaring corporate profits are to blame for high inflation remains uncertain, but as inflation slows down, the negative CEO sentiment suggests some companies' profits are set to fall as well. In September, Federal Reserve Vice Chair Lael Brainard said retailers' profit margins "have risen significantly more than the average hourly wage that retailers pay workers."
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