Job Creators Network Reacts to March PCE Index

Alfredo Ortiz, CEO of Job Creators Network, released the following statement in response to the March PCE Index, which rose by 0.3% (2.7% y/y), and Core PCE, which rose by 0.3% (2.8% y/y):

“Inflation is resurgent due to Democrats’ unwillingness to accept sensible government spending measures. Reckless Democrat spending, a.k.a. Modern Monetary Theory, is fueling inflation’s fire and devaluing the dollar. As a result, the Federal Reserve can’t go ahead with planned interest rate cuts needed by small businesses to end the credit crunch. Combined with Thursday’s GDP report, these inflation numbers show the economy is reentering stagflation. The only way to grow the economy and tame inflation for good is for voters to replace spendthrift Democrats with sensible conservatives on Election Day.”