Today, the Bureau of Labor Statistics released the September Consumer Price Index, which shows inflation at 2.4% year-over-year – the lowest reading since February 2021. Groundwork’s Senior Fellow Kitty Richards reacted with the following statement:
“With last week’s fantastic jobs numbers and today’s news that inflation continues to fall, the verdict is in: we never needed to punish workers to bring down inflation. Thanks to big public investments in domestic supply chains, manufacturing, clean energy, and supports for workers and families, the economy is booming and delivering for working people, while COVID-driven inflation has disappeared.
“The Fed should continue to quickly normalize interest rates to give families some relief from the high cost of borrowing, and make sure the labor market stays strong.”
Email press@groundworkcollaborative.org to speak with Richards or one of Groundwork’s experts about inflation.