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The mystery of rising prices. Are greedy corporations to blame for inflation?
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The mystery of rising prices. Are greedy corporations to blame for inflation?

Stacey Vanek Smith
NPR, 2022
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While the Federal Reserve focuses on restoring price stability in the US economy, what is less clear is how inflation reared its ugly head in the first place. Correspondent Stacey Vanek Smith explores the current inflationary environment and its possible underlying causes, including excess government spending, the Fed’s accommodative monetary policy during the COVID-19 pandemic, geopolitical instability and corporate greed. Anyone concerned about inflation turmoil will find some valuable insights in this informative report.

Summary

The US economy is in the grip of inflationary pressures not seen in decades.

Inflation is back around the world. In the United States at the end of November 2022, prices were running 7.7% higher than the year before. The rates of increase varied, with gas prices and the cost of eggs showing some of the steepest rises. It’s important for consumers to understand why inflation has reappeared after decades of relative price stability.

People disagree about what is driving today’s inflation. If you ask an economic conservative to explain the root cause, the answer will likely focus ...

About the Author

Stacey Vanek Smith is the co-host of NPR’s The Indicator from Planet Money and a Planet Money correspondent.

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