that s probably also an omicron factor, and inflation at levels we haven t seen in decades and the president consistently expresses his concern and recognizes what a challenge it is to working families. that s why i think this message is so important, donny, which is that we are doing everything we can from our side. we re not the federal reserve. first and foremost, the federal reserve controls monetary policy. but we are trying to help at the ports to unsnarl supply chains. that s where some of the price pressures are coming from. our trucks agenda is helping get goods from ship to shelf at some of the speediest rates we ve seen in recent years. we have a competition policy to help lower the level of prices in industries where there s too much concentration. of course, longer term with the competes bill, we re trying to incent an investment in u.s. investment, particularly semiconductors which means in longer term some of the car shortages.
survey of executives from the prominent business roundtable, ceo s outlook the strongest in the 20-year history of the survey. the omicron factor could change that. if history is a guide, large companies have managed very well through every twist and turn of this pandemic. even with tangled supply khaepbs. the covid economy has been remarkably profitable for the big companies. profits for s&p 500 companies soared 37.5% in the year ending in june. according to bloomberg, they posted biggest profit margins in 70 years. let me say that again. biggest margins since 1950. the s&p is up 20% this year. even after that november wobble there. nearly half of ceos surveyed said worker pay was the greatest cost pressure. profit margins would suggest