Ahead of tomorrow’s Jobs Report, Groundwork’s Director of Policy and Research Mike Mitchell released the following statement cautioning that additional rate hikes will bring more pain to workers and push our economy into a recession:
“Chair Powell’s aggressive rate hikes have done little to bring down rising prices, but they are threatening to undo one of the strongest jobs recoveries in recent history. Further rate hikes will only crush low-income and marginalized workers scraping to get by.”