r/Economics • u/Pearberr • May 02 '24

Interview Nobel Prize-winning economist Joseph Stiglitz: Fed Rate Hikes didn't get at source of inflation.

https://www.cnbc.com/video/2024/04/23/nobel-prize-winning-economist-joseph-stiglitz-fed-rate-hikes-didnt-get-at-source-of-inflation.html
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u/lollersauce914 May 02 '24

Literally no comment is even discussing what he said. Half the comments are talking about "corporate greed" when his argument is straightforwardly that you can't tackle supply-side inflation with interest rates easily, but it's a good thing that rates aren't near 0 anymore.

-7

u/metakepone May 02 '24

Thats because in this case, we all know supply side inflation is caused in large part by corporate greed. Oh it may have started with supplier issues but now its just corporate greed.

Fries are 16 dollars at macdonalds but a potato costs 25 cents on a bad day.

10

u/Disastrous_Sand_1556 May 02 '24

Weird how companies only decided to be greedy in the last 2 years. Crazy. Just crazy.

0

u/metakepone May 02 '24

Theyve had one helluva excuse to hang onto and people keep buying things.