Consumer inflation surged in 2021 by 7% — some wonder when the decreasing wholesale inflation for businesses will begin to show up in their retail prices.
“Wages are not a big part of the high inflation story that we’re seeing,” Powell insisted, saying the jump “has not been a major contributor” to this year’s inflation.
“There is no American with more insider knowledge about government policy that drives financial market movements than the chair of the Federal Reserve,” the report emphasized.
Sunday’s move appeared to be the largest single-day action ever taken by the Fed on record.
Corporations have almost $10 trillion in debt on their balance sheets, equivalent to 47% of the entire U.S. economy. Peaks in corporate debt levels have historically coincided with recessions.
The data which cover the years 1989 through 2018 reveal a consistent trend of widening wealth inequality.