Over the past few months, various authors at various institutions — specifically Oscar Arce, Elke Hahn and Gerrit Koester at the ECB, Andrew Glover, José Mustre-del-Río and Alice von Ende-Becker at the Kansas City Federal Reserve, and Paul Donovan at UBS — have written pieces about the relationship between profits and the most recent bout of inflation. Advocates of what is often called the “greedflation” hypothesis of inflation have taken to pointing to these pieces as proof of that...| Matt Bruenig Dot Com