During an interview with CBS’s “The Takeout” podcast that took place before the release of the February inflation numbers, acting Labor Secretary Julie Su said that there is price gouging and “One reason for inflation is that companies are taking advantage of market forces or just charging more in a way that increases their profit, but has nothing to do with worker’s wages.”
Su said, [relevant remarks begin around 36:45] “I think there is something to the argument that, of course — the connection between wages and prices. But that is not — it’s not like a direct correlation or causation. Oftentimes, prices go up, even when wages don’t. So, this is a — this is sort of the president’s approach to the idea of — it’s a shrinkflation idea, but it’s also a, like, price gouging. One reason for inflation is that companies are taking advantage of market…
