Today, the BLS released its Consumer Price Index Report, which showed inflation reached its lowest year-over-year level since May 2021.
Groundwork’s Executive Director Lindsay Owens reacted to today’s inflation report with the following statement:
“The verdict is in: we don’t have to choose between low prices and low unemployment. We can have both. Today’s inflation numbers show 10 straight months of falling inflation on the heels of a 53-year record low unemployment rate.
“The only thing left to do now is to ensure that Chair Powell doesn’t screw it up with needless rate hikes that would accelerate instability in financial markets and jeopardize our strong labor market.”