That's what the Federal Reserve said. In fact, in that same time period, July of 20th to July of 22, in that two year period, the Federal Reserve in Kansas City did this report told us that corporate profits drove 41% of all the inflation in that period. Now that doesn't mean that corporate profits drove all the inflation for two years, but 41% is a hell of a lot. (09:36–09:53)
CLAIM
Asserts that a Federal Reserve report indicated corporate profits drove 41% of inflation from July 2020 to July 2022.
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