Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits
on oil and gas company profits and to funnel the proceeds to financially struggling households.
Most of all, though, economists say resurgent spending by consumers and governments drove inflation up.from a year earlier, the biggest price spike since 1981.raised its benchmark short-term rate by three-quarters of a point by the Washington Post and George Mason University's Schar School of Policy and Government blamed profit-seeking corporations, more than the share who pointed to Russia's war against Ukraine or Biden or pandemic disruptions . And the verdict was bipartisan: 86% of Democrats and 52% of Republicans blamed corporations for inflated gas prices.
Policymakers and analysts have been repeatedly blindsided by the path the economy has taken since COVID struck in March 2020: They didn’t expect the swift recovery from the downturn, fueled by vast government spending and record-low rates engineered by the Fed and other central banks. Then they were slow to recognize the gathering threat of high inflation pressures, dismissing them at first as merely a temporary consequence of supply disruptions.
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