“Excess corporate profits or price gouging, has come into the cross-hairs.” Importantly, the Fed can hike rates to the moon, but that's not going to stop corporations from price gouging.
Corporate America’s cash machine has disproportionately fueled the inflationary boom, according to Josh Bivens, at the Economic Policy Institute. As price pressures rose in 2021, fattening company margins accounted for >50% the increase. Labor costs were less than 8%. Source: https://www.bloomberg.com/news/articles/2022-11-30/fat-cat-margins-make-s-p-a-high-value-target-in-inflation-wars