Fed’s Favorite Inflation Gauge Remains Near 40-Year High

Washington, DC (August 26, 2022) – Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement on today’s release of the PCE Index, which rose by 6.3% over the last year:

“Democrats and their media allies are celebrating today’s month-over-month decline in the PCE Index while ignoring that year-over-year inflation remains near a 40-year high. Ordinary Americans and small businesses are still being crushed by this historic inflation, even if it is no longer in the news cycle. President Biden’s half-trillion dollar student loan bailout will only pour fuel on this inflationary fire — a fact that even Democrat economists have admitted. To ultimately end this sustained period of high inflation, the Biden administration and Congressional Democrats must commit to stopping their reckless spending.”