{"id":1484179,"date":"2022-05-19T11:16:22","date_gmt":"2022-05-19T15:16:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1484179"},"modified":"2022-05-19T11:16:30","modified_gmt":"2022-05-19T15:16:30","slug":"even-obamas-former-economic-adviser-recognizes-corporate-greed-isnt-to-blame-for-high-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/even-obamas-former-economic-adviser-recognizes-corporate-greed-isnt-to-blame-for-high-inflation\/","title":{"rendered":"Even Obama\u2019s Former Economic Adviser Recognizes \u2018Corporate Greed\u2019 Isn\u2019t To Blame For High Inflation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feven-obamas-former-economic-adviser-recognizes-corporate-greed-isnt-to-blame-for-high-inflation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1484179&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/dw-wp-production.imgix.net\/2022\/05\/Untitled-design-39-2.jpg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Democratic leaders have recently blamed record-high rates of <a href=\"https:\/\/www.dailywire.com\/topic\/inflation\">inflation<\/a> and <a href=\"https:\/\/www.dailywire.com\/topic\/oil-and-gas\">energy<\/a> prices on so-called corporate greed, but even President Barack Obama\u2019s former top economic adviser says that there is little to no evidence that corporations deserve the blame for the current economic woes.<\/p>\n<p>On Thursday, Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-19\/-greedflation-pits-democrats-against-like-minded-economists\">reported<\/a>: \u201cMany Democrats blame price-gouging companies for the worst surge in Americans\u2019 cost of living in more than a generation. But economists, including several who are left-leaning disagree.\u201d<\/p>\n<p>\u201cCorporate power is playing likely a very small role in the inflation that we\u2019re seeing right now,\u201d Jason Furman, a Harvard professor and former chair of President Barack Obama\u2019s Council of Economic Advisers, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-19\/-greedflation-pits-democrats-against-like-minded-economists\">told<\/a> Bloomberg.<\/p>\n<p>Furman also claimed the \u201cprimary solution has to come from the primary cause of inflation, which is demand is way too high.\u201d<\/p>\n<p>Previous Associated Press fact-checks have explained that one reason why demand is too high is that there is too much money in the economy from government spending under the Biden administration.<\/p>\n<p>\u201cGovernment spending has been a clear factor behind rising consumer prices, though it\u2019s not the only one,\u201d the AP\u00a0<a href=\"https:\/\/apnews.com\/article\/russia-ukraine-biden-covid-health-business-772e1eb45fb5981f3a2b6f2a4b0d201f\">noted<\/a> in March. The outlet also reported that many economists said President Joe Biden\u2019s $1.9 trillion American Rescue Plan \u201ccaused inflation to run higher than it otherwise would.\u201d<\/p>\n<p>\u201cBut the problem is that Biden pumped more money into the economy than it could handle. Administration officials said before the relief package was passed that the greater risk was do too little to help the economy than to do too much,\u201d the AP <a href=\"https:\/\/apnews.com\/article\/russia-ukraine-biden-covid-health-business-772e1eb45fb5981f3a2b6f2a4b0d201f\">explained<\/a>. \u201cThe implicit risk was inflation, though the tradeoff was faster hiring and stronger growth.\u201d<\/p>\n<p>Meanwhile, House Speaker Nancy Pelosi (D-CA) has placed the blame for high prices of food and gasoline at the feet of big business. Her solution is more government control, <a href=\"https:\/\/www.washingtonexaminer.com\/restoring-america\/faith-freedom-self-reliance\/politics-gasoline-prices-and-price-controls\">including plans to introduce price controls for gas and oil<\/a>.<\/p>\n<p>\u201cWe need to have a bright light of transparency on how companies are making big profits at the expense \u2014 and this is in the energy sector, at the expense of the consumer,\u201d Pelosi <a href=\"https:\/\/www.dailywire.com\/news\/watch-pelosi-pressed-on-what-democrats-are-doing-to-slow-down-skyrocketing-inflation\">said<\/a> on Sunday. \u201cAnd we also are having\u00a0 the same kind of hearings \u2026 in the Agriculture Committee on how we can increase competition, again, so that we can lower food prices.\u201d<\/p>\n<p>Critics say that Democratic leaders are merely issuing \u201cexcuses\u201d for the inflation that has happened under their watch.<\/p>\n<p class=\"m_4675811315830403871p1\"><b>\u201c<\/b>Inflation is at record highs, gas prices are soaring, shelves are empty, the economy is in shambles,\u00a0and voters have only House Democrats to blame for it,\u201d Congressional Leadership Fund Press Secretary Cally Perkins said in an email to The Daily Wire.<\/p>\n<p class=\"m_4675811315830403871p1\">\u201cInstead of spinning up excuses, Democrats should reconsider their woke tax and spend agenda that got us into this mess to begin with,\u201d she added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Democratic leaders have recently blamed record-high rates of inflation and energy prices on so-called corporate greed, but even President Barack Obama\u2019s former top economic adviser says that there is little<\/p>\n","protected":false},"author":326,"featured_media":1484209,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1484179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1484179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/326"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1484179"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1484179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1484209"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1484179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1484179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1484179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}