PBS NewsHour How high could gas prices go as sanctions ratchet up on Russia?

Gas prices reached record highs, as shown above, due in part to the Russian invasion of Ukraine. Prices are down slightly from those highs, but not fully reflecting the suspension of gas taxes in Georgia.

Credit: File photo

The panel

Caroline Fohlin, @CarolineFohlin, professor of economics, Emory University

Jim Galloway, @JimJournalist, former political columnist, The Atlanta Journal-Constitution

Michael Kanell, @MichaelKanell, business & economics reporter, The Atlanta Journal-Constitution

Stephen Fowler, @stphnfwlr, political reporter, GPB News

The breakdown

1. Atlanta's unemployment rate continues to fall, but Georgians' wallets still feel light.

  • Atlanta employers added 6,600 jobs in the last month and the GDP grew 2.6% in the last quarter. So why is everything still so expensive?
  • This election cycle has seen several messages on who's at fault for statewide inflation, be it President Biden or Governor Kemp. NPR's Camila Domonoske says you can't blame or thank the president for gas prices.

Stephen Fowler on the political spin to the economy.

2. Why are Georgians paying more for the same items at the grocery store?

  • Corporate profits have risen over the rate of inflation in certain industries. With fewer competitive markets and higher demand coming out of the pandemic, prices remain high.
  • The Warnock campaign has touted his work on reducing the cost of insulin as part of his economic messaging.
  • Mike Kanell says demand for things like groceries never really change, so grocers can charge what they want for high-demand items.

Michael Kanell on how food prices are affected by demand.

3. Why does the Fed keep raising interest rates?

  • As workers gain an economic upper-hand with lower unemployment and higher wages, companies raise prices.
  • The Federal Reserve raises interest rates in order to keep prices lower by affecting the working class in an attempt to hinder inflation.

Caroline Fohlin explains the Federal Reserve's role in economics.

4. Looking over the four initiatives on Georgians' ballots.

Monday on Political Rewind: The AJC's Patricia Murphy joins the panel.

Tags: Economy  price gouging  inflation  Georgia  Politics  Georgia Politics  Federal Reserve  groceries  COVID  voting