The Fed faces the conundrum of wanting to see more evidence of cooling inflation before cutting interest rates, given the unexpected rise in the Consumer Price Index. High interest rates haven't deterred recession but failed to curb inflation as expected.
Corporations like PepsiCo and Coca-Cola's record profits amidst high prices suggest monopoly power maintaining elevated prices, impacting public sentiment and challenging Biden's economic credibility.
Pepsi hiked prices by double digits despite declining inflation, planning to sustain them in 2024, reflecting limited competition. Coca-Cola followed suit, justifying price hikes with popular demand, raising concerns of corporate price gouging.
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