Birdwatch Note Rating
2024-03-02 20:17:26 UTC - HELPFUL
Rated by Participant: C8FD890ACCEE7FECEC4520F0E62CD97F8908DF0C210FB6D615394D4EF673E56F
Participant Details
Original Note:
Federal Reserve reports link these profits w/inflation, but show the profits were largely due to USG's stimulus packages & lower interest expenses (not price gouging). These profits followed trends from prior recoveries & returned to pre-pandemic levels by the end of 2022. https://www.federalreserve.gov/econres/notes/feds-notes/corporate-profits-in-the-aftermath-of-covid-19-20230908.html https://www.kansascityfed.org/research/economic-bulletin/corporate-profits-contributed-a-lot-to-inflation-in-2021-but-little-in-2022/
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