Ever higher interest rates won’t solve the problem of greedflation

Central banks seem blind to one of the real causes of inflation: profiteering under cover of Covid and the Ukraine war

Greedflation will probably prove to be a brief moment in history - two years, possibly three, when corporations jacked up prices above and beyond the extra costs they faced, while most people were more concerned with the pandemic and later the Ukraine war.

Brief it may be, but history won't be kind if we ignore the importance of greedflation, as most economists and policymakers have done so far.