Clinton-Era Labor Secretary Blames Corporate Price Gouging for Inflation, Calls for Price Controls

Started by Epoch-Times-Bot, Sep 29, 2022, 11:15 AM

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Epoch-Times-Bot

Sep 29, 2022, 11:15 AM
Clinton-Era Labor Secretary Blames Corporate Price Gouging for Inflation, Calls for Price Controls

Former Secretary of Labor Robert Reich is blaming "corporate greed" as the driving force behind soaring inflation, insisting that wages are not to be blamed for the phenomenon.
The Federal Reserve's notion that inflation is being supported by rising wages triggered by a tight labor market, and that the solution to the problem is to keep raising interest rates, is "dead wrong," Reich wrote in an op-ed for The Guardian. Wage increases have not kept up with inflation, and the paychecks of most workers are shrinking in the context of real purchasing power. Rather than causing inflation, wages are "actually reducing" inflationary pressures, he states....

Source: Clinton-Era Labor Secretary Blames Corporate Price Gouging for Inflation, Calls for Price Controls

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