Today, Federal Reserve Chair Jerome Powell and other Fed officials will likely hold interest rates steady after cutting rates in December. Groundwork Collaborative Executive Director Lindsay Owens blasted Powell’s indifference to sky-high borrowing costs for working families:
“President Trump has taken zero meaningful actions to lower the cost of groceries or bring down sky-high rents, and just this week, he moved to defund Meals on Wheels, health insurance, and Head Start, which will only make life more expensive.
“Now his Fed chair is following suit, again holding interest rates at historic highs, and punishing working class families who must borrow to make ends meet.
“President Trump may be yelling at Chair Powell on Twitter, but they have at least two things in common: steadfast allegiance to Wall Street and complete indifference to the economic pain of working families.”
Email press@groundworkcollaborative.org to speak with one of Groundwork’s experts about inflation, the cost of living, and interest rates.