Dr. Rakeen Mabud: “The Fed should not only pause tomorrow but pause going forward”
Today’s May Consumer Price Index (CPI) Report showed consumer prices rose at the slowest pace since April 2021. Groundwork’s Chief Economist Dr. Rakeen Mabud joined Yahoo Finance live this morning to break down today’s numbers and discuss how they should inform the Federal Reserve’s interest rate decision this week:
“Through its 10 consecutive interest rate hikes, [the Fed] has simply been hammering away…and trying to weaken a labor market that’s been remarkably strong coming out of the pandemic.
“We need to take a different approach. The Fed should not only pause tomorrow but pause going forward and see how these 10 rate hikes play out.”
Email firstname.lastname@example.org to speak with Dr. Mabud about today’s inflation report and the Federal Reserve’s next interest rate move.