Inflation Drivers
A study by 3 Ph.D. economists at the San Francisco Fed has found that “price markups for goods and services” — aka, price gouging — has “not been a main driver” of recent inflation. Instead, the root causes are “large” federal government “fiscal transfers and increased unemployment benefits” (aka, social spending) and Federal Reserve policies like lowering “the federal funds rate target to essentially zero.”
Just Facts has been documenting those same facts for more than 17 months, while Elizabeth Warren, Joe Biden, and other Democrats have been blaming inflation on “corporate greed.”
The Fed study confirms that the real cause of inflation is the big government spending agenda that Warren, Biden, & Co. supported and enacted.
Trump and many Republicans also played a role in the spending, but Democrats voted for far more of it, and the lockdowns that led to the spending were pushed with misinformation from the left and were stricter and longer in Democrat states.
