Corporate greed drives inflation on the backs of working families

AFL-CIO Secretary-Treasurer Fred Redmond joined the America’s Work Force Union

Podcast and discussed the reasons behind the current wave of inflation and how corporations are using it as an excuse to rake in record-high profits on the backs of working people.

Inflation in America is a serious problem that has made it harder for working families to put food on the table, Redmond said. The pandemic has wrecked global supply chains, and demand has bounced back around the world. Factories have not been able to produce as many goods, and supply chains have been stifled due to trucker shortages. As one of the world’s largest importers, the U.S. has arguably been most affected by the supply chain issue, he explained.

Redmond stressed inflation is not a result of the policies of the Biden administration, which has actually worked to stem the pain to working families through a pro-labor platform. Biden has done much to stabilize the economy at a particularly chaotic time, he noted.

Redmond pointed out corporations are using inflation as an excuse to raise prices in order to increase profits, which only further exacerbates the problem. While prices have naturally risen due to higher energy costs and supply shortages, companies across the globe are boosting their prices even higher than those costs justify simply because they can, he said.

Redmond also talked about a week-long strategy session he attended in Panama on behalf of the Trade Union Confederation of America, of which he is president. There was discussion about the recent successful unionization efforts of Amazon workers, he said. The global trade union movement aspires to organize Amazon workers all over the world.

Listen to the entire episode to learn more about these topics.