EPI in the news

• Prices are set to fall for homes, cars, and furniture. It’s a sign the Fed may not need to risk a recession that punishes job seekers.

  “Inflation is coming from continued supply chain bottlenecks, the energy prices, dealing with the Russian invasion of Ukraine,” Elise Gould, an economist for the Economic Policy Institute, told Insider. “There’s still some mismatch. I think that some of that’s going to come down on its own, so I think the Federal Reserve doesn’t have to act so aggressively.”

  Business Insider | September 23, 2022
• A Left Answer to Inflation

  In fact, corporate profits at nonfinancial companies account for more than half of recent price growth, according to the progressive Economic Policy Institute.

  In These Times | September 23, 2022
• Altercation: How the Democrats’ Economics Changed

  The book tells the story of how this change came about, through the work of people like Joseph Stiglitz and groups like the Economic Policy Institute. It’s a really important change because it rejects the assumption of classical economics that left alone, the market will find equilibrium. No—the state has to play an evening-out role.

  | September 23, 2022
• Fed Issues Another Big Rate Hike. What Inflation and Higher Interest Rates Mean for You

  But the reduction in supply was met with increased demand as Americans started purchasing durable goods to replace the services they used prior to the pandemic, said Josh Bivens, director of research at the Economic Policy Institute. “The pandemic put distortions on both the demand and supply side of the US economy,” Bivens said. 

  CNET | September 23, 2022
• Workers are changing jobs and getting raises, and still struggling financially

  Dynamism can be defined as change, advancement and a restless entrepreneurial spirit, said Heidi Shierholz, president of the Economic Policy Institute.

  Ever since the Great Recession and the mass layoffs of 2008, workers grew security-oriented, hanging onto jobs and staying put, Shierholz said.

  NPR | September 23, 2022
• Five actions we can take now for our kids, our teachers, and our schools

  Here are five critical actions to take today:

  1. End the teacher pay penalty:Raise base teacher pay by 24.5%. That is the difference when you compare teacher salaries to non-teacher college graduates, calculated by the Economic Policy Institute. We should address this immediately to support current and future teachers. For a beginning teacher, this would increase pay from $37,000 to $46,065. It would move the state from being in the bottom 10 to the top 20 states in terms of beginning teacher pay. It would make us No. 1 in the South and help to reduce the flow of teachers to other states, and ideally attract teachers to North Carolina.
  EdNC | September 23, 2022
• US Federal Reserve ups interest rates by 75 basis points

  Despite the fact that higher interest rates are supposed to limit intra-bank loans and thus create new money, the Economic Policy Institute found in an April study that corporate profits accounted in the last two years for 54% of inflation in the US. This means that the problem is price speculation, not overeager lenders.

  Al Mayadeen English | September 23, 2022

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