'Even a major bank's chief economist now admits that corporations are price gouging under the guise of inflation.'
"Companies have passed higher costs on to customers," wrote Paul Donovan of UBS Global Wealth Management."But they have also taken advantage of circumstances to expand profit margins.
"Even a major bank's chief economist now admits that corporations are price gouging under the guise of inflation." Thus far, though, the Powell-led Federal Reserve has primarily used interest rate increases in its as-yet unsuccessful effort to bring down inflation, even as critics warn that such an approach harms workers and risks a devastating recession without tackling the primary drivers of price increases.
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