Ahead of the first Federal Open Market Committee meeting of the year and with new data this week showing core PCE inflation over the last 6 months running under the Fed’s 2% target and GDP growth exceeding expectations, Groundwork Collaborative’s Director of Policy and Research Bilal Baydoun released the following statement:
“Anyone who claimed we needed to cause a recession to bring down prices was wrong. We never had to choose between a strong economy and low inflation.
“This week’s inflation data should be a recipe for rate cuts in March. Chair Powell and the Fed must shift course.”
Email press@groundworkcollaborative.org to speak to Bilal Baydoun about what to expect from the Federal Reserve next week.