Workers are being punished for inflation. The real culprit is corporate greed

‘Prices at the gas pump have drifted down a bit in the last month but are still eye-popping. At the same time, Exxon just reported second-quarter profits of $17.9bn, more than three times what it earned a year ago.’ Photograph: Frederic J Brown/AFP/Getty Images

The US Federal Reserve is aiming its powerful firehose at the living room but it’s the forest that’s ablaze. As a result, people may drown even as their house catches fire.

This about sums up the sorry state of inflation fighting in America.