Today, the Personal Consumption Expenditures (PCE) price index showed prices stayed flat in May and core PCE inflation at its lowest annual reading since March 2021. Groundwork Collaborative’s Director of Policy and Research Bilal Baydoun reacted with the following statement:
“With zero price growth in May for both CPI and PCE, there is no reason to hold back on cutting interest rates. Chair Powell shouldn’t waste any more time.
“Families need relief from high housing and borrowing costs now.”
Email press@groundworkcollaborative.org to speak with a Groundwork expert about inflation and the Federal Reserve.