“Congress has stalled out on doing work that it could do to help families lower costs," Sen. Warren tells TIME. "The President has the tools to fight back.”
So companies in all markets in all countries attained this market concentration at the same time, triggering this? And it just happened to coincide with a big expansion in the money supply, but the expansion in money supply had nothing to do with the inflation?
No, they attained market concentration in enough markets in enough countries to drive the rest, and to varying but overall high degrees. What happened at the same time were the interest rate hikes.
If a money supply hike was enough to cause this, and there were decent natural competitive restraints on price fixing, wages would have went up together with prices.
No, interest rate hikes significantly postdated the inflation. Fed started hiking in March 2022, and by that time annualized CPI inflation rate had reached 8 percent. Average over 2021 was 4.7 percent. In any case, interest rates increases are to combat inflation, they are not a cause of inflation
Moreover, wages did go up. US median personal income went from $35.8k in 2020 to $40.5k in 2022. Maybe it didn’t go up as much as other prices, but there’s nothing that says all prices have to rise by exactly the same amount during an inflationary episode.
So companies in all markets in all countries attained this market concentration at the same time, triggering this? And it just happened to coincide with a big expansion in the money supply, but the expansion in money supply had nothing to do with the inflation?
No, they attained market concentration in enough markets in enough countries to drive the rest, and to varying but overall high degrees. What happened at the same time were the interest rate hikes.
If a money supply hike was enough to cause this, and there were decent natural competitive restraints on price fixing, wages would have went up together with prices.
No, interest rate hikes significantly postdated the inflation. Fed started hiking in March 2022, and by that time annualized CPI inflation rate had reached 8 percent. Average over 2021 was 4.7 percent. In any case, interest rates increases are to combat inflation, they are not a cause of inflation
Moreover, wages did go up. US median personal income went from $35.8k in 2020 to $40.5k in 2022. Maybe it didn’t go up as much as other prices, but there’s nothing that says all prices have to rise by exactly the same amount during an inflationary episode.