Today, the Personal Consumption Expenditures (PCE) index showed inflation ticked down to 2.5% year-over-year in June. Groundwork Collaborative’s Director of Policy and Research Bilal Baydoun reacted with the following statement:
“This report makes it clear that Chair Powell should stop delaying rate cuts. Twenty-three-year high interest rates are not warranted – they never were. The Fed should act now and cut.”
Email press@groundworkcollaborative.org to speak with a Groundwork expert about inflation and the Federal Reserve.