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James Hardaway's avatar

Professor, I wanted to get your take on the conversation related to high inflation vs corporate profits, specifically the claim in some corners of "the discourse" that profits are rising at a higher rate than inflation. The data on corporate profits from BEA does seem to show the rapidly increasing profits, but this argument doesn't necessarily seem to fall into the idea of inflation expectations, drivers etc. How does this discussion fit in to the typical supply/demand side discussions of inflation you've covered so far, or is the debate a red herring?

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