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President Biden and other Democratic lawmakers have frequently blamed corporate price gouging for chronic inflation that has Americans paying more for everyday necessities. But new research published by the Federal Reserve Bank of San Francisco suggests that corporate greed is not a primary driver of the inflation spike that began in early 2021. Although some companies jacked up prices after the COVID-19 pandemic – markups surged for things like gasoline and cars in 2021, for instance –...

Corporate price gouging has not been a primary driver of U.S. inflation, according to research published on Monday by economists at the Federal Reserve Bank of San Francisco. While markups for motor vehicles and petroleum products did rise sharply during the 2021-2022 inflation surge, markups across the entire spectrum of U.S. goods and services have been relatively flat during the post-pandemic recovery, the bank's latest Economic Letter showed. "As such, rising markups have not been a...

Some progressives have frequently blamed corporate greed for fueling the high cost of living that Americans are fed up with. Yet new research from the Federal Reserve Bank of San Francisco casts doubt on the greedflation theory. Economists at the SF Fed found that corporate price gouging was not a primary catalyst for the inflation surge of 2021 to 2022. The Fed researchers did find that some companies exercised pricing power by raising prices above their production costs – a gap known...

For more than two decades, through two wars and domestic upheaval, the idea that al-Qaeda acted alone on 9/11 has been the basis of U.S. policy. A blue-ribbon commission concluded that Osama bin Laden had pioneered a new kind of terrorist group—combining superior technological know-how, extensive resources, and a worldwide network so well coordinated that it could carry out operations of unprecedented magnitude. This vanguard of jihad, it seemed, was the first nonstate actor that rivaled nation...

The Biden administration was poised to send about a dozen detainees at Guantánamo Bay to Oman for resettlement last year, but it abruptly halted the secret operation amid questions from Congress about security in the Middle East after Hamas attacked Israel, according to administration officials. None of the prisoners have ever been charged with crimes, and all of them had been cleared for transfer by national security review panels. A military cargo plane was already on the runway at...