Ahead of tomorrow’s jobs report from the Bureau of Labor Statistics (BLS), Groundwork’s Chief Economist Dr. Rakeen Mabud released the following statement:
“It is abundantly clear that we don’t need to choose between a strong labor market and lower inflation.
“Yesterday’s rate hikes place millions of workers one step closer to joblessness. There’s no such thing as a ‘mild recession’ for the people who will lose their wages and jobs at the altar of inflation. If we enter a recession, Chair Powell and the Fed only have themselves to blame.”