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Biden doubles down on greedflation in SOTU

76research Quicktake - March 8, 2024

President Biden returned to the "greedflation" narrative in SOTU last night. He wants to blame the private sector (rather than perhaps his own policies and decisions) for the high teens cumulative inflation of 2021 through 2023. We looked into this in Issue 1 of the 76report. Gross margins fell for 9/10 top U.S. retailers as inflation soared. Seems inconsistent with the administration's price gouging story. Access full report here.

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