Her hagiography at wikihahahapedia indicates that she is lifelong bureaucrat. She has never run, or even worked in, a legitimate business.
Posted on 02/15/2024 9:03:36 AM PST by Eccl 10:2
Lael Brainard: 'People are fed up with high prices,' especially for 'things that they buy on a weekly basis, groceries in particular'
A top Biden economic adviser on Thursday pressed on with the administration's recent effort to go after grocery stores and food companies over elevated prices, as inflation remains a major worry for voters as November's presidential election nears.
"Grocery prices, they are important to people because they pay those prices every week," said Lael Brainard, director of President Joe Biden's National Economic Council, during a news conference at a National Association for Business Economics event in Washington, D.C.
"We've seen in consumer brands, that in a lot of cases, they are effectively raising unit prices, but masking it by shrinking packaging, and it's important to call that out and to use the tools we have to go after that. And, you know, I think for the grocery stores and chains that raised their margins during the height of the pandemic, it's time to bring those down."
(Excerpt) Read more at morningstar.com ...
FJB: Grocery chains should drop their profit margins from 2% to 1% - greedy bastards!
Instead of enacting sane policy the Biden administration threatens businesses.
How many states still impose much higher sales taxes on food (spoiler: most of them)?
Shows ya commies dont want anyone making ANY money
Have they ever reached 2%. I always remember 1%
Here’s a thought- DRILL- up the reserve- get prices to drop like a stone, and prices of products will follow-
“making ANY money”
maybe bidung should ask all the shoplifters to stop stealing everything that’s not nailed down ... that could help
I cannot comment on this.
After reading “Atlas Shrugged” many, many times, I feel that it should be fed to these people as a meal.
And, as it is a thick book...Whole.
Just when you thought it couldn’t get any more insane.
Her hagiography at wikihahahapedia indicates that she is lifelong bureaucrat. She has never run, or even worked in, a legitimate business.
Because grocery stores are bastions of high profits and huge dividends.
Kroger, the largest chain that isn’t Walmart or Costco has a profit margin of 22%. Apple has a profit margin of 25%. Googles is 25%. Microsoft’s is about 40%+.
Is he asking ALL of those companies to cut their profit margins?
And what is, I wonder, an “acceptable” profit margin? Raytheon is about 10%. GM is 6%. Should the be raising their rates to make more profit?
Biden has never held a non-government job in his sorry life.
Like all tyrants, he believes he can just pronounce something and it becomes law...................
I’m not going to pretend that I know what kind of margins grocery stores have, but I would imagine like a lot of other retail enterprises, you NEED margins to that would seems significant to your average consumer, because they aren’t considering costs, expenses and overhead. Labor costs typically being one of the highest. You can’t just look at gross revenue, which is the simple calculation of subtracting a unit cost from a unit sale.
I’m not apologizing for grocery chains, because maybe their margins are higher, which would exclude the fact that their own inventory costs are also higher, but doesn’t take into account the fact that inflation has hit almost every other expenses that you have in operating a store, including having to pay employees more because no one seems to want to work anymore.
“I don’t think any of these people actually know what a business is.”
$$$$$$$$$$$$$$$$
This. The liberal masses just think they are entitled to have these goods and services provided to them at a price they want to pay, with absolutely no regard or knowledge for what it costs for the producers to provide them.
Florida: NO SALES TAX ON FOOD OR MEDICINES.
Soft drinks, junk and snack foods are taxed.........................
If the Democrats can cheat their way to a permanent majority, that request will turn into a demand.
Say no, and maybe you’ll face an IRS audit in the morning and an FBI raid in the evening. That’s just the way today’s Democrats roll.
There seem to be a lot of FEMALE tyrants out there...
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