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2021-12-13

Who's to blame for inflation? It's complicated<blockquote>谁该为通货膨胀负责？这很复杂</blockquote>

New York (CNN Business) - President Joe Biden and other politicians will tell you inflation is Corpo

Who's to blame for inflation? It's complicated<blockquote>谁该为通货膨胀负责？这很复杂</blockquote>

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It's complicated<blockquote>谁该为通货膨胀负责？这很复杂</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1130623983","media":"CNN Business","summary":"New York (CNN Business) - President Joe Biden and other politicians will tell you inflation is Corpo","content":"New York (CNN Business)&nbsp;-&nbsp;President Joe Biden and other politicians will tell you inflation is Corporate America's fault. Corporate America blames the administration's pandemic assistance programs for putting too much cash into the economy.<blockquote>纽约（CNN Business）——乔·拜登总统和其他政客会告诉你通货膨胀是美国企业的错。美国企业界指责政府的疫情援助计划向经济投入了太多现金。</blockquote> The reality, economists say, is that it's all of those things. And more.<blockquote>经济学家说，现实是所有这些事情。还有更多。</blockquote> On Friday, the consumer price index&nbsp;showed inflation hitting a nearly four-decade high. Prices for goods and services rose 6.8% last month compared with a year earlier — the fastest pace since 1982.<blockquote>周五，消费者价格指数显示通胀创近四年来新高。上个月商品和服务价格同比上涨6.8%，为1982年以来最快涨幅。</blockquote> Inflation isn't inherently a bad thing. In the United States, for the past 40 years or so (and the better part of this century), we've been living with an ideal low-and-slow level of inflation that comes with a well-oiled consumer-driven economy, with prices going up around 2% a year, if that. The current surge in prices reflects an economy roaring back to its fighting weight. What concerns economists and policymakers is when prices keep rising, and when wages don't rise in kind.<blockquote>通货膨胀本质上并不是一件坏事。在美国，在过去40年左右的时间里（以及本世纪的大部分时间里），我们一直生活在理想的低而缓慢的通货膨胀水平下，伴随着一个运转良好的消费者驱动型经济，如果是这样的话，价格每年上涨2%左右。目前的价格飙升反映出经济正在恢复其战斗力。经济学家和政策制定者担心的是价格何时持续上涨，以及工资何时没有实物上涨。</blockquote> Although wages broadly are also going up, they so far haven't kept pace with the rising costs of food, energy, housing and everyday consumer goods. People are, understandably, frustrated. Although there's no one single culprit to blame, here are some of the forces — Covid-19, greedy businesses, the supply chain crisis, the government — you can take your rage out on.<blockquote>尽管工资总体上也在上涨，但迄今为止还没有跟上食品、能源、住房和日常消费品成本上涨的步伐。可以理解，人们感到沮丧。虽然没有单一的罪魁祸首，但这里有一些力量——新冠肺炎、贪婪的企业、供应链危机、政府——你可以发泄你的愤怒。</blockquote> The pandemic<blockquote>大流行</blockquote> This is an easy one. The pandemic upended everything about our lives, and when the world shut down in the spring of 2020, it was like pulling the plug on the global economy.<blockquote>这很简单。疫情颠覆了我们生活的一切，当世界在2020年春天关闭时，就像拔掉了全球经济的插头。</blockquote> But by that summer, demand for consumer goods started to rebound. Big time. Congress and President Biden passed an historic $1.9 trillion stimulus bill in March that put cash directly in Americans' wallets. And rather than spending money on travel or dining out, we spent on stuff. Lots and lots of it.<blockquote>但到了那年夏天，消费品需求开始反弹。大时代。国会和拜登总统在3月份通过了历史性的1.9万亿美元刺激法案，将现金直接放入美国人的钱包。我们没有把钱花在旅行或外出就餐上，而是花在了东西上。很多很多。</blockquote> Demand went from zero to 100, but supplies couldn't bounce back so easily. Factories were on lockdown or navigating Covid-19 restrictions, and raw materials were harder to get because of the sudden swell in demand. Shortages of just about everything cropped up, especially workers to unload goods and drive them to their destination. We're still untangling the mess at ports around the world.<blockquote>需求从零增加到100，但供应不可能那么容易反弹。工厂被封锁或应对新冠肺炎的限制，由于需求突然激增，原材料更难获得。几乎所有东西都出现了短缺，尤其是卸货并将其运送到目的地的工人。我们仍在清理世界各地港口的混乱局面。</blockquote> Corporate America<blockquote>美国企业界</blockquote> It can feel morally satisfying and politically convenient to blame Corporate America. After all, profit margins are up across industries even as the costs of production have risen.<blockquote>指责美国企业在道德上是令人满意的，在政治上也是方便的。毕竟，尽管生产成本上升，但各行业的利润率都在上升。</blockquote> About two-thirds of the largest publicly traded US companies have reported fatter profit margins so far this year than in the same period in 2019, according to the Wall Street Journal. In other words, even as costs for raw materials, labor and transportation have increased in response to the pandemic, a lot big corporations are offsetting those costs by raising prices on consumers.<blockquote>据《华尔街日报》报道，今年迄今为止，约三分之二的美国最大上市公司的利润率高于2019年同期。换句话说，尽管原材料、劳动力和运输成本因疫情而增加，但许多大公司正在通过提高消费者价格来抵消这些成本。</blockquote> Although analysts say it's almost impossible to verify how much price increases reflect rising production costs versus a desire to juice profits, companies aren't exactly hiding their price flexes. In fact, some are on record bragging about their \"pricing power\" — corporate-speak for sticking customers with a bigger bill.<blockquote>尽管分析师表示，几乎不可能核实价格上涨在多大程度上反映了生产成本上升与增加利润的愿望，但公司并没有完全隐藏其价格弹性。事实上，一些人公开吹嘘他们的“定价权”——企业用更大的账单来坚持顾客。</blockquote> Democrats and consumer advocates are calling these companies out. Earlier this week, Senator Elizabeth Warren blasted Hertz for spending $2 billion on a stock buyback — a common but controversial way to reward shareholders — rather than investing its excess cash in rebuilding its fleet, which could bring down record-high prices for consumers.<blockquote>民主党人和消费者权益倡导者正在呼吁这些公司。本周早些时候，参议员伊丽莎白·沃伦(Elizabeth Warren)抨击赫兹斥资20亿美元回购股票——这是一种常见但有争议的回报股东的方式——而不是将多余的现金投资于重建车队，这可能会降低消费者创纪录的价格。</blockquote> Although there's some truth to the argument that corporations are making inflation worse, there is a bigger structural problem underpinning the issue: for decades, lax antitrust enforcement has put the concentration of economic power in the hands of a few giants.<blockquote>尽管企业加剧通胀的说法有一定道理，但这个问题背后还有一个更大的结构性问题：几十年来，松懈的反垄断执法使经济权力集中在少数巨头手中。</blockquote> \"Viewed this way, the underlying problem isn't inflation per se. It's lack of competition,\" wrote Robert Reich, a former US secretary of labor,in an op-ed for the Guardian&nbsp;last month. \"Corporations are using the excuse of inflation to raise prices and make fatter profits.\"<blockquote>“从这个角度来看，根本问题不在于通胀本身。而是缺乏竞争，”美国前劳工部长罗伯特·赖克上个月在《卫报》的一篇专栏文章中写道。“企业以通货膨胀为借口提高价格并赚取更多利润。”</blockquote> The Biden Administration<blockquote>拜登政府</blockquote> Republicans have been hammering Democrats and the Biden White House on inflation.<blockquote>共和党人一直在通胀问题上抨击民主党和拜登白宫。</blockquote> After Friday's price index report came out, Senate Minority Leader Mitch McConnell wasted no time when it came to pointing fingers. \"It is unthinkable that Senate Democrats would try to respond to this inflation report by ramming through another massive socialist spending package in a matter of days,\" he tweeted.<blockquote>周五的价格指数报告出来后，参议院少数党领袖米奇·麦康奈尔立即指责。他在推特上写道：“参议院民主党人试图通过在几天内再次提出一项大规模的社会党支出方案来回应这一通胀报告，这是不可想象的。”</blockquote> It's true that government spending boosts inflation, but economists have pushed back on the idea that Biden's ambitious social safety net expansion will inflame price surges. \"Worries that the plan will ignite undesirably high inflation and an overheating economy are overdone,\" Mark Zandi, the chief economist at Moody's Analytics, said in July.<blockquote>诚然，政府支出会推高通胀，但经济学家反驳了拜登雄心勃勃的社会安全网扩张将加剧物价飙升的观点。穆迪分析首席经济学家马克·赞迪(Mark Zandi)7月份表示：“对该计划将引发不良的高通胀和经济过热的担忧有些过头了。”</blockquote> Moody's analysts noted that government spending on items such as rental housing for low-income Americans, reducing prescription drug costs and making childcare more affordable&nbsp;is aimed at cooling off prices&nbsp;and easing shortages.<blockquote>穆迪分析师指出，政府在低收入美国人的租赁住房、降低处方药成本和让儿童保育更实惠等项目上的支出旨在冷却价格并缓解短缺。</blockquote> Republicans blaming inflation on Biden are also conveniently forgetting the trillions of dollars in spending passed in 2020 supported by Republicans and signed by then-President Donald Trump, which economists say have also contributed to inflation.<blockquote>将通胀归咎于拜登的共和党人也很容易忘记了2020年通过的由共和党支持并由时任总统唐纳德·特朗普签署的数万亿美元支出，经济学家表示，这些支出也导致了通胀。</blockquote> The Fed<blockquote>美联储</blockquote> Money has essentially been free for the past year and a half, thanks to the Fed's double-barrel shotgun approach to economic stimulus — interest rates near zero and a massive investment in bonds that keeps yields near rock-bottom.<blockquote>在过去的一年半里，资金基本上是免费的，这要归功于美联储对经济刺激采取的双管猎枪方法——利率接近于零，并对债券进行大规模投资，使收益率保持在接近最低水平。</blockquote> That stimulus has staved off a lot of financial and economic pain, and was always meant to be temporary. But for months the Fed brushed off inflation concerns, vaguely dubbing price surges \"transitory\" before that word became almost comically devoid of meaning.<blockquote>这种刺激措施避免了许多金融和经济痛苦，而且总是暂时的。但几个月来，美联储对通胀担忧置之不理，模糊地将价格飙升称为“暂时的”，然后这个词变得几乎滑稽地毫无意义。</blockquote> The Fed is finally tapping the breaks. Last month, Chairman Jerome Powell told Congress \"the economy is very strong and inflationary pressures are high,\" so it would be appropriate to consider tapering its asset purchases more aggressively.<blockquote>美联储终于抓住了突破口。上个月，主席杰罗姆·鲍威尔告诉国会，“经济非常强劲，通胀压力很大”，因此考虑更积极地缩减资产购买是合适的。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Who's to blame for inflation? It's complicated<blockquote>谁该为通货膨胀负责？这很复杂</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWho's to blame for inflation? It's complicated<blockquote>谁该为通货膨胀负责？这很复杂</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nCNN Business2021-12-13 09:57\n\n</h4>\n</header>\n<article>\nNew York (CNN Business)&nbsp;-&nbsp;President Joe Biden and other politicians will tell you inflation is Corporate America's fault. Corporate America blames the administration's pandemic assistance programs for putting too much cash into the economy.<blockquote>纽约（CNN Business）——乔·拜登总统和其他政客会告诉你通货膨胀是美国企业的错。美国企业界指责政府的疫情援助计划向经济投入了太多现金。</blockquote> The reality, economists say, is that it's all of those things. And more.<blockquote>经济学家说，现实是所有这些事情。还有更多。</blockquote> On Friday, the consumer price index&nbsp;showed inflation hitting a nearly four-decade high. Prices for goods and services rose 6.8% last month compared with a year earlier — the fastest pace since 1982.<blockquote>周五，消费者价格指数显示通胀创近四年来新高。上个月商品和服务价格同比上涨6.8%，为1982年以来最快涨幅。</blockquote> Inflation isn't inherently a bad thing. In the United States, for the past 40 years or so (and the better part of this century), we've been living with an ideal low-and-slow level of inflation that comes with a well-oiled consumer-driven economy, with prices going up around 2% a year, if that. The current surge in prices reflects an economy roaring back to its fighting weight. What concerns economists and policymakers is when prices keep rising, and when wages don't rise in kind.<blockquote>通货膨胀本质上并不是一件坏事。在美国，在过去40年左右的时间里（以及本世纪的大部分时间里），我们一直生活在理想的低而缓慢的通货膨胀水平下，伴随着一个运转良好的消费者驱动型经济，如果是这样的话，价格每年上涨2%左右。目前的价格飙升反映出经济正在恢复其战斗力。经济学家和政策制定者担心的是价格何时持续上涨，以及工资何时没有实物上涨。</blockquote> Although wages broadly are also going up, they so far haven't kept pace with the rising costs of food, energy, housing and everyday consumer goods. People are, understandably, frustrated. Although there's no one single culprit to blame, here are some of the forces — Covid-19, greedy businesses, the supply chain crisis, the government — you can take your rage out on.<blockquote>尽管工资总体上也在上涨，但迄今为止还没有跟上食品、能源、住房和日常消费品成本上涨的步伐。可以理解，人们感到沮丧。虽然没有单一的罪魁祸首，但这里有一些力量——新冠肺炎、贪婪的企业、供应链危机、政府——你可以发泄你的愤怒。</blockquote> The pandemic<blockquote>大流行</blockquote> This is an easy one. The pandemic upended everything about our lives, and when the world shut down in the spring of 2020, it was like pulling the plug on the global economy.<blockquote>这很简单。疫情颠覆了我们生活的一切，当世界在2020年春天关闭时，就像拔掉了全球经济的插头。</blockquote> But by that summer, demand for consumer goods started to rebound. Big time. Congress and President Biden passed an historic $1.9 trillion stimulus bill in March that put cash directly in Americans' wallets. And rather than spending money on travel or dining out, we spent on stuff. Lots and lots of it.<blockquote>但到了那年夏天，消费品需求开始反弹。大时代。国会和拜登总统在3月份通过了历史性的1.9万亿美元刺激法案，将现金直接放入美国人的钱包。我们没有把钱花在旅行或外出就餐上，而是花在了东西上。很多很多。</blockquote> Demand went from zero to 100, but supplies couldn't bounce back so easily. Factories were on lockdown or navigating Covid-19 restrictions, and raw materials were harder to get because of the sudden swell in demand. Shortages of just about everything cropped up, especially workers to unload goods and drive them to their destination. We're still untangling the mess at ports around the world.<blockquote>需求从零增加到100，但供应不可能那么容易反弹。工厂被封锁或应对新冠肺炎的限制，由于需求突然激增，原材料更难获得。几乎所有东西都出现了短缺，尤其是卸货并将其运送到目的地的工人。我们仍在清理世界各地港口的混乱局面。</blockquote> Corporate America<blockquote>美国企业界</blockquote> It can feel morally satisfying and politically convenient to blame Corporate America. After all, profit margins are up across industries even as the costs of production have risen.<blockquote>指责美国企业在道德上是令人满意的，在政治上也是方便的。毕竟，尽管生产成本上升，但各行业的利润率都在上升。</blockquote> About two-thirds of the largest publicly traded US companies have reported fatter profit margins so far this year than in the same period in 2019, according to the Wall Street Journal. In other words, even as costs for raw materials, labor and transportation have increased in response to the pandemic, a lot big corporations are offsetting those costs by raising prices on consumers.<blockquote>据《华尔街日报》报道，今年迄今为止，约三分之二的美国最大上市公司的利润率高于2019年同期。换句话说，尽管原材料、劳动力和运输成本因疫情而增加，但许多大公司正在通过提高消费者价格来抵消这些成本。</blockquote> Although analysts say it's almost impossible to verify how much price increases reflect rising production costs versus a desire to juice profits, companies aren't exactly hiding their price flexes. In fact, some are on record bragging about their \"pricing power\" — corporate-speak for sticking customers with a bigger bill.<blockquote>尽管分析师表示，几乎不可能核实价格上涨在多大程度上反映了生产成本上升与增加利润的愿望，但公司并没有完全隐藏其价格弹性。事实上，一些人公开吹嘘他们的“定价权”——企业用更大的账单来坚持顾客。</blockquote> Democrats and consumer advocates are calling these companies out. Earlier this week, Senator Elizabeth Warren blasted Hertz for spending $2 billion on a stock buyback — a common but controversial way to reward shareholders — rather than investing its excess cash in rebuilding its fleet, which could bring down record-high prices for consumers.<blockquote>民主党人和消费者权益倡导者正在呼吁这些公司。本周早些时候，参议员伊丽莎白·沃伦(Elizabeth Warren)抨击赫兹斥资20亿美元回购股票——这是一种常见但有争议的回报股东的方式——而不是将多余的现金投资于重建车队，这可能会降低消费者创纪录的价格。</blockquote> Although there's some truth to the argument that corporations are making inflation worse, there is a bigger structural problem underpinning the issue: for decades, lax antitrust enforcement has put the concentration of economic power in the hands of a few giants.<blockquote>尽管企业加剧通胀的说法有一定道理，但这个问题背后还有一个更大的结构性问题：几十年来，松懈的反垄断执法使经济权力集中在少数巨头手中。</blockquote> \"Viewed this way, the underlying problem isn't inflation per se. It's lack of competition,\" wrote Robert Reich, a former US secretary of labor,in an op-ed for the Guardian&nbsp;last month. \"Corporations are using the excuse of inflation to raise prices and make fatter profits.\"<blockquote>“从这个角度来看，根本问题不在于通胀本身。而是缺乏竞争，”美国前劳工部长罗伯特·赖克上个月在《卫报》的一篇专栏文章中写道。“企业以通货膨胀为借口提高价格并赚取更多利润。”</blockquote> The Biden Administration<blockquote>拜登政府</blockquote> Republicans have been hammering Democrats and the Biden White House on inflation.<blockquote>共和党人一直在通胀问题上抨击民主党和拜登白宫。</blockquote> After Friday's price index report came out, Senate Minority Leader Mitch McConnell wasted no time when it came to pointing fingers. \"It is unthinkable that Senate Democrats would try to respond to this inflation report by ramming through another massive socialist spending package in a matter of days,\" he tweeted.<blockquote>周五的价格指数报告出来后，参议院少数党领袖米奇·麦康奈尔立即指责。他在推特上写道：“参议院民主党人试图通过在几天内再次提出一项大规模的社会党支出方案来回应这一通胀报告，这是不可想象的。”</blockquote> It's true that government spending boosts inflation, but economists have pushed back on the idea that Biden's ambitious social safety net expansion will inflame price surges. \"Worries that the plan will ignite undesirably high inflation and an overheating economy are overdone,\" Mark Zandi, the chief economist at Moody's Analytics, said in July.<blockquote>诚然，政府支出会推高通胀，但经济学家反驳了拜登雄心勃勃的社会安全网扩张将加剧物价飙升的观点。穆迪分析首席经济学家马克·赞迪(Mark Zandi)7月份表示：“对该计划将引发不良的高通胀和经济过热的担忧有些过头了。”</blockquote> Moody's analysts noted that government spending on items such as rental housing for low-income Americans, reducing prescription drug costs and making childcare more affordable&nbsp;is aimed at cooling off prices&nbsp;and easing shortages.<blockquote>穆迪分析师指出，政府在低收入美国人的租赁住房、降低处方药成本和让儿童保育更实惠等项目上的支出旨在冷却价格并缓解短缺。</blockquote> Republicans blaming inflation on Biden are also conveniently forgetting the trillions of dollars in spending passed in 2020 supported by Republicans and signed by then-President Donald Trump, which economists say have also contributed to inflation.<blockquote>将通胀归咎于拜登的共和党人也很容易忘记了2020年通过的由共和党支持并由时任总统唐纳德·特朗普签署的数万亿美元支出，经济学家表示，这些支出也导致了通胀。</blockquote> The Fed<blockquote>美联储</blockquote> Money has essentially been free for the past year and a half, thanks to the Fed's double-barrel shotgun approach to economic stimulus — interest rates near zero and a massive investment in bonds that keeps yields near rock-bottom.<blockquote>在过去的一年半里，资金基本上是免费的，这要归功于美联储对经济刺激采取的双管猎枪方法——利率接近于零，并对债券进行大规模投资，使收益率保持在接近最低水平。</blockquote> That stimulus has staved off a lot of financial and economic pain, and was always meant to be temporary. But for months the Fed brushed off inflation concerns, vaguely dubbing price surges \"transitory\" before that word became almost comically devoid of meaning.<blockquote>这种刺激措施避免了许多金融和经济痛苦，而且总是暂时的。但几个月来，美联储对通胀担忧置之不理，模糊地将价格飙升称为“暂时的”，然后这个词变得几乎滑稽地毫无意义。</blockquote> The Fed is finally tapping the breaks. Last month, Chairman Jerome Powell told Congress \"the economy is very strong and inflationary pressures are high,\" so it would be appropriate to consider tapering its asset purchases more aggressively.<blockquote>美联储终于抓住了突破口。上个月，主席杰罗姆·鲍威尔告诉国会，“经济非常强劲，通胀压力很大”，因此考虑更积极地缩减资产购买是合适的。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://edition.cnn.com/2021/12/12/economy/inflation-blame-pandemic-biden-corporations/index.html\">CNN Business</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://edition.cnn.com/2021/12/12/economy/inflation-blame-pandemic-biden-corporations/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130623983","content_text":"New York (CNN Business) - President Joe Biden and other politicians will tell you inflation is Corporate America's fault. Corporate America blames the administration's pandemic assistance programs for putting too much cash into the economy.\nThe reality, economists say, is that it's all of those things. And more.\nOn Friday, the consumer price index showed inflation hitting a nearly four-decade high. Prices for goods and services rose 6.8% last month compared with a year earlier — the fastest pace since 1982.\nInflation isn't inherently a bad thing. In the United States, for the past 40 years or so (and the better part of this century), we've been living with an ideal low-and-slow level of inflation that comes with a well-oiled consumer-driven economy, with prices going up around 2% a year, if that. The current surge in prices reflects an economy roaring back to its fighting weight. What concerns economists and policymakers is when prices keep rising, and when wages don't rise in kind.\nAlthough wages broadly are also going up, they so far haven't kept pace with the rising costs of food, energy, housing and everyday consumer goods. People are, understandably, frustrated. Although there's no one single culprit to blame, here are some of the forces — Covid-19, greedy businesses, the supply chain crisis, the government — you can take your rage out on.\nThe pandemic\nThis is an easy one. The pandemic upended everything about our lives, and when the world shut down in the spring of 2020, it was like pulling the plug on the global economy.\nBut by that summer, demand for consumer goods started to rebound. Big time. Congress and President Biden passed an historic $1.9 trillion stimulus bill in March that put cash directly in Americans' wallets. And rather than spending money on travel or dining out, we spent on stuff. Lots and lots of it.\nDemand went from zero to 100, but supplies couldn't bounce back so easily. Factories were on lockdown or navigating Covid-19 restrictions, and raw materials were harder to get because of the sudden swell in demand. Shortages of just about everything cropped up, especially workers to unload goods and drive them to their destination. We're still untangling the mess at ports around the world.\nCorporate America\nIt can feel morally satisfying and politically convenient to blame Corporate America. After all, profit margins are up across industries even as the costs of production have risen.\nAbout two-thirds of the largest publicly traded US companies have reported fatter profit margins so far this year than in the same period in 2019, according to the Wall Street Journal. In other words, even as costs for raw materials, labor and transportation have increased in response to the pandemic, a lot big corporations are offsetting those costs by raising prices on consumers.\nAlthough analysts say it's almost impossible to verify how much price increases reflect rising production costs versus a desire to juice profits, companies aren't exactly hiding their price flexes. In fact, some are on record bragging about their \"pricing power\" — corporate-speak for sticking customers with a bigger bill.\nDemocrats and consumer advocates are calling these companies out. Earlier this week, Senator Elizabeth Warren blasted Hertz for spending $2 billion on a stock buyback — a common but controversial way to reward shareholders — rather than investing its excess cash in rebuilding its fleet, which could bring down record-high prices for consumers.\nAlthough there's some truth to the argument that corporations are making inflation worse, there is a bigger structural problem underpinning the issue: for decades, lax antitrust enforcement has put the concentration of economic power in the hands of a few giants.\n\"Viewed this way, the underlying problem isn't inflation per se. It's lack of competition,\" wrote Robert Reich, a former US secretary of labor,in an op-ed for the Guardian last month. \"Corporations are using the excuse of inflation to raise prices and make fatter profits.\"\nThe Biden Administration\nRepublicans have been hammering Democrats and the Biden White House on inflation.\nAfter Friday's price index report came out, Senate Minority Leader Mitch McConnell wasted no time when it came to pointing fingers. \"It is unthinkable that Senate Democrats would try to respond to this inflation report by ramming through another massive socialist spending package in a matter of days,\" he tweeted.\nIt's true that government spending boosts inflation, but economists have pushed back on the idea that Biden's ambitious social safety net expansion will inflame price surges. \"Worries that the plan will ignite undesirably high inflation and an overheating economy are overdone,\" Mark Zandi, the chief economist at Moody's Analytics, said in July.\nMoody's analysts noted that government spending on items such as rental housing for low-income Americans, reducing prescription drug costs and making childcare more affordable is aimed at cooling off prices and easing shortages.\nRepublicans blaming inflation on Biden are also conveniently forgetting the trillions of dollars in spending passed in 2020 supported by Republicans and signed by then-President Donald Trump, which economists say have also contributed to inflation.\nThe Fed\nMoney has essentially been free for the past year and a half, thanks to the Fed's double-barrel shotgun approach to economic stimulus — interest rates near zero and a massive investment in bonds that keeps yields near rock-bottom.\nThat stimulus has staved off a lot of financial and economic pain, and was always meant to be temporary. But for months the Fed brushed off inflation concerns, vaguely dubbing price surges \"transitory\" before that word became almost comically devoid of meaning.\nThe Fed is finally tapping the breaks. Last month, Chairman Jerome Powell told Congress \"the economy is very strong and inflationary pressures are high,\" so it would be appropriate to consider tapering its asset purchases more aggressively.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2657,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Who's to blame for inflation? It's complicated<blockquote>谁该为通货膨胀负责？这很复杂</blockquote>

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