Today, the Personal Consumption Expenditures (PCE) index showed inflation ticked down to 2.1% year-over-year in September – the lowest since early 2021. Groundwork Collaborative’s Chief Economist Dr. Rakeen Mabud reacted with the following statement:
“We have a low-inflation, high-employment, strong-growth economy. The Fed has no reason to take it slow on the way down with interest rate cuts. Chair Powell and his colleagues should make another 50 basis point cut next week.”
Email press@groundworkcollaborative.org to speak with a Groundwork expert about inflation and the Federal Reserve.