High PCE Report Shows Inflation Fight is Far From Over

Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement on today’s PCE report, which showed the inflation gauge increased to 5.4% in January, while core inflation rose to 4.7%: 

“Today’s PCE report is just the latest indication that the fight against inflation has stalled. Persistent high inflation is making ordinary Americans poorer and small businesses less profitable. The Federal Reserve can only do so much. Congress must pass pro-growth policies and cut wasteful spending to reverse some of the damage done by the Biden administration and finally get inflation back under control.”