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There's 'overwhelming evidence' tariffs have raised consumer prices, says Bank of America (www.businessinsider.com)

submitted 1 day ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Analysts at the Bank of America said tariffs have raised prices for consumers.

They wrote in a note that consumers have covered about 50% to 70% of the cost of levies to date.

This suggests tariffs will continue to put "upward pressure" on inflation, they said.

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[–] ayyy@sh.itjust.works 1 points 1 day ago (1 children)

If that were true, the Walton family, the Bezos family etc. wouldn’t be obscenely wealthy. There’s clearly margin there that they are hoarding.

[–] shalafi@lemmy.world 1 points 1 day ago* (last edited 1 day ago)

I'm talking lean on staff, not profits.

Employee pay is far more than most think. Call it a little less than double your hourly wage, especially with modest benefits. That's why they cut us at every opportunity.

CEO pay is change compared to axing employees. I could go on all night, but each employee has costs way above their hourly pay. SOURCE: Worked IT at a payroll firm, saw the numbers, taxes, etc. You make $15? You cost $30.

Want more money? Want higher stock prices? Axe the employees. We're the top cost center in almost any business.