Inflation: Former Labor Secretary says, ‘Fatter corporate profits are driving inflation’

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Yahoo Finance published this video item, entitled “Inflation: Former Labor Secretary says, ‘Fatter corporate profits are driving inflation’” – below is their description.

#shorts #inflation #LaborSecretary #YahooFinance

Former Labor Secretary under the Obama administration Tom Perez speaks on the ongoing inflation crisis and how fatter corporate profits and margins are a key contributor to it.

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Barack Obama is an American politician and attorney who served as the 44th president of the United States from 2009 to 2017. A member of the Democratic Party, Obama was the first African-American president of the United States. He previously served as a U.S. senator from Illinois from 2005 to 2008 and an Illinois state senator from 1997 to 2004.

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In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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