Corporate profits rise amid inflation as some Democrats cry foul

As consumers feel the pinch of inflation, corporate profits are hitting all-time highs, adding impetus to Democratic arguments that big business is gouging consumers and making inflation worse.

Inflation has become a major headwind for Democrats ahead of this fall’s midterm elections, when the party is at risk of losing its narrow majorities in the House and Senate.

Rising prices have contributed to President Biden’s faltering approval ratings, adding to Democratic anxieties.

But Sen. Elizabeth Warren (D-Mass.) and other Democrats contend it is increasingly clear that part of the problem is big business, and that Democrats need to go on the attack to fight inflation by pressuring corporate America to stop raising prices.