Cost of Greed

Last week, the New York Times pointed to car dealerships as an example of how, despite slowing inflation and easing supply chain issues, companies are keeping prices high to pad their profits. As the article explains, if corporations choose to bring their prices down, inflation can come down without increasing unemployment.

Last week, railroad companies struck a tentative deal with union workers to avoid a strike that would have had catastrophic consequences for our economy. The deal, which still needs to be approved by union members, would be a step forward for rail workers across the country.

This morning, the August Consumer Price Index (CPI) report showed that inflation was 8.3% in August compared with 8.5% in July — the second month in a row that year-over-year inflation has fallen.