.Groundwork's chief economist rakeen_mabud urged policymakers to 'address corporate profiteering as a driver of inflation by reining in megacorporations and addressing the unsustainably high prices facing families around the country.'
A leading economist urged policymakers to"address corporate profiteering as a driver of inflation by reining in megacorporations and addressing the unsustainably high prices facing families around the country."Progressive demands for congressional action to curb corporate monopoly power were renewed Friday after federal data confirmed that certain heavily consolidated industries are continuing to rake in massive profits while working households struggle under the weight of high prices.
Meanwhile, executives in the nation's transportation and warehousing sector enjoyed a nearly 40% increase in profits during the same time period, pocketing $124.4 billion in the second quarter after taking home $89.4 billion over the first three months of the year. "We've heard directly from executives in the sectors that families depend on—from oil, to auto shops, to airlines—that inflation has been good for business," Rakeen Mabud, chief economist and managing director of policy and research at the Groundwork Collaborative,
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