The United States Federal Reserve always uses the same blunt tool to combat inflation or even the remote threat of inflation–hiking interest rates. But this tool has always been based on an assumption that rarely has been true–that rising wages cause inflation. There can be many reasons for inflation. Most recently, pandemic-caused disruptions in the supply chain have been a factor. President Clinton’s former Secretary of Labor, Robert Reich, points out the link between corporate greed and inflation. He shows how existing inflation in some sectors have been used to justify hiking prices in other areas. https://www.theguardian.com/commentisfree/2022/sep/25/inflation-price-controls-robert-reich?CMP=oth_b-aplnews_d-1
