Progressive policy experts took aim at corporate greed and profiteering during a Thursday U.S. Senate hearing on "shrinkflation," the process of reducing the size or quantity of a product while selling it at the same price. At the Senate Committee on Banking, Housing, and Urban Affairs hearing—entitled "Higher Prices: How Shrinkflation and Technology Can Impact Consumers' Finances"—Chair Sherrod Brown (D-Ohio) began by acknowledging that "prices today are far too high, and families are having a harder time finding a fair price, seeing more of their paycheck vanish into thin air." "All of this is happening while corporate profits hit record highs," the senator continued.
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