Today, the Federal Reserve begins its two-day Federal Open Market Committee meeting, where it is expected to announce another rate hike. Groundwork Collaborative’s Executive Director Lindsay Owens released the following statement ahead of the meeting:
“Chair Powell and the Fed continue to push the false choice peddled by inflation hawks that we have to choose between a strong labor market and lower prices. The data show that we can have both.
“The dangerous reflex to hike rates, no matter the causes of inflation, is both a policy failure and a failure to imagine a world in which workers are anything other than expendable. The Fed should end its rate hiking campaign for good.”
Email press@groundworkcollaborative.org to speak with Dr. Owens about the FOMC meeting and why Chair Powell should stop trying to grind our economy to a halt with additional rate hikes.