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Sen. Bob Casey asks congressional investigators to look at 'greedflation'
The senator, up for re-election, blames the run-up in prices on corporate greedPittsburgh Post-Gazette link: https://www.post-gazette.com/news/politics-state/2024/01/19/inflation-bob-casey-senate-2024-election/stories/202401160152
WASHINGTON — U.S. Sen. Bob Casey has asked the investigative arm of Congress to investigate what he says is corporate greed costing American families thousands of dollars in jacked-up prices.
Mr. Casey, D-Pa., asked the Government Accountability Office to examine how “greedflation” is hitting consumers’ pockets and to evaluate measures that could help raise awareness. He has blamed inflation on company price hikes to increase profits, not President Joe Biden’s policies. “These corporate strategies to hide price increases and raise the unit cost of everyday items like food and household products are hurting families in Pennsylvania,” he wrote to the GAO.
“And consumers are noticing, as evidenced by a November 2023 poll in which 50% of U.S. respondents noticed food product sizes getting smaller, while prices remained the same. The American people should not have to tolerate corporate executives squeezing them for every last nickel and dime.”
Mr. Casey has been focused on this issue for some time, even as Republicans work to lay the blame for inflation at the president’s door. Economists see pandemic-related spending meant to stabilize the economy as a factor, along with war-impacted supply chains and steps taken by the Federal Reserve to raise interest rates.
- more at link -
Mr. Casey, D-Pa., asked the Government Accountability Office to examine how “greedflation” is hitting consumers’ pockets and to evaluate measures that could help raise awareness. He has blamed inflation on company price hikes to increase profits, not President Joe Biden’s policies. “These corporate strategies to hide price increases and raise the unit cost of everyday items like food and household products are hurting families in Pennsylvania,” he wrote to the GAO.
“And consumers are noticing, as evidenced by a November 2023 poll in which 50% of U.S. respondents noticed food product sizes getting smaller, while prices remained the same. The American people should not have to tolerate corporate executives squeezing them for every last nickel and dime.”
Mr. Casey has been focused on this issue for some time, even as Republicans work to lay the blame for inflation at the president’s door. Economists see pandemic-related spending meant to stabilize the economy as a factor, along with war-impacted supply chains and steps taken by the Federal Reserve to raise interest rates.
Good on you Senator Casey!
And let's hope the Supreme Court doesn't kneecap the Government Accountability Office like it's trying to do for the other regulatory agencies that Americans rely on for stability.
