Casting corporate profiteering as a key driver of inflation would be a political winner for Democrats—and it has the virtue of being true.
by Robert Reich, In These Times
Despite the Federal Reserve’s most aggressive campaign in generations to slow the economy and bring price increases under control, prices continued to climb at a brutally rapid pace in September — with a key inflation index increasing at the fastest rate in 40 years.

Even though the Fed has quickly raised interest rates from near zero to a range of 3 to 3.25 percent, overall inflation — 8.2 percent over the year through September — continues to roar. Worse, it’s headed in the wrong direction. After stripping out volatile fuel and food, inflation increased. No wonder investors expect the Fed to announce another rate increase at the end of its next meeting, on Nov. 2.
All this could have severe political consequences for Democrats in the midterm elections three weeks from today. Republicans are focusing on inflation because voters see it as their biggest immediate problem, and it’s easy to pin blame on the Democrats because they’re in charge. Biden and the Democrats have provided no retort except to talk about their efforts to reduce drug prices.
Recent Posts
“Arrest Now, Ask Questions Later”: Why Did L.A. ICE Agents Arrest and Jail U.S. Citizen Andrea Velez?
July 3, 2025
Take Action Now “They didn’t have vests that said ICE or anything. Their cars didn’t have license plates. … Just because of the color of our…
Trump’s Big, Beautiful Bill Is Naked Class War
July 3, 2025
Take Action Now Trump’s “Big, Beautiful Bill” trades tax cuts on millionaires for the dissolution of society.By Hamilton Nolan, In These Times…
Mayor Mamdani’s First Day, A Zero Hour Conversation With Richard Wolff
July 2, 2025
Take Action Now If elected, what would Mayor Mamdani do on his first day in City Hall? How would a democratic socialist govern as a big-city mayor?……
The U.S. Is Funding A Bloodbath At Gaza Aid Centers
July 2, 2025
Take Action Now The admin just gave $30M to GHF, the organization at the center of charges that Israel is weaponizing assistance and shooting at…