![]() ![]() The big picture: In a speech last month, Fed vice chair Lael Brainard described a "price–price spiral," where companies in some sectors had been hiking prices for consumers by more than their own costs ultimately rose. Why it matters: One takeaway from corporate earnings season is a turnaround from recent years, when strong consumer demand allowed companies to pass along higher costs more easily. Now the opposite looks to be true: margins are compressing, which could help the inflation cooldown that appears to be underway.For much of the past two years, corporate America has been able to raise prices, with much of the higher prices juicing profits.
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