Today, the Bureau of Labor Statistics released the August Consumer Price Index, which shows inflation at 2.5% year-over-year – the lowest reading since February 2021. Groundwork’s Chief Economist Dr. Rakeen Mabud reacted with the following statement:
“Today’s report once again confirms that housing is the last mile when it comes to bringing prices under control. The Fed needs to act as aggressively in cutting rates as they did in hiking them.”
Email press@groundworkcollaborative.org to speak with one of Groundwork’s experts about inflation, the Federal Reserve, and interest rates.