On any given day, Groundwork's analyses, op-eds, reports, and commentary are featured in leading publications and on the most influential news programs and podcasts.
Today, the Bureau of Labor Statistics released the April jobs report which shows that our economy added 175,000 jobs last month and unemployment ticked up to 3.9%.
“The Inflation Reduction Act’s provisions to create a sustainable, clean energy economy are ushering in a new period of economic growth. Repealing these efforts does exactly the opposite: this bill would shrink our economy and harm the workers who power it.”
Today, Groundwork Collaborative Director of Policy and Research Bilal Baydoun testified before the Senate Banking Committee at a hearing titled, “Higher Prices: How Shrinkflation and Technology Impact Consumers’ Finances,” where he outlined the rampant corporate power behind price hikes facing consumers.
Bilal Baydoun, director of policy and research at the Groundwork Collaborative, testified that "in America today, a fair price, let alone a sweet deal, is harder and harder to come by. In the age of corporate concentration and high-powered algorithms, pricing is in the midst of a troubling transformation, and the price tag as we know it may become a relic of the past."
As The Hill reported, the cost of buying a home has hit an all-time high, thanks in part to high mortgage rates. “The Fed’s high interest rates are exacerbating our housing crisis while doing nothing to tackle the high prices that remain. Meanwhile, sky-high borrowing costs have pushed household debt to an all-time high and delinquencies are rising,” said Rakeen Mabud, chief economist at the progressive Groundwork Collaborative and a former Treasury Department staffer.
Tomorrow at 10 a.m. ET, Groundwork Collaborative Director of Policy and Research Bilal Baydoun will testify before the Senate Banking Committee at a hearing titled, “Higher Prices: How Shrinkflation and Technology Impact Consumers’ Finances,” where he will outline the rampant corporate power behind price hikes facing consumers.
Ahead of the Federal Reserve’s policy announcement this afternoon, Groundwork Collaborative Chief Economist Dr. Rakeen Mabud warned against keeping interest rates at 23-year highs: “The Fed is failing families struggling to get by and failing to bring down inflation. Chair Powell should move to cut rates.”
“The Fed’s high interest rates are exacerbating our housing crisis while doing nothing to tackle the high prices that remain. Meanwhile, sky-high borrowing costs have pushed household debt to an all-time high and delinquencies are rising,” said Rakeen Mabud, chief economist at the progressive Groundwork Collaborative and a former Treasury Department staffer.
Groundwork Collaborative Executive Director Lindsay Owens ahead of Tuesday's rate decision from the Federal Reserve.
Groundwork Collaborative released a new video featuring Chief Economist Dr. Rakeen Mabud, who explains how the Federal Reserve’s refusal to lower interest rates is keeping housing costs high and making it more costly and more difficult for people to buy or even rent a home. The video comes ahead of the Federal Open Market Committee meeting on April 30 and May 1, where the Fed will announce the path forward on interest rates in the coming months.