Job Creators Network Responds to August Consumer Price Index

Alfredo Ortiz, CEO of Job Creators Network, released the following statement in response to the August Consumer Price Index, which rose by 0.4%, and Core CPI, which rose by 0.3%:

“Moderate consumer inflation in August cannot derail a significant interest rate cut at the Federal Reserve’s meeting next week. As a result of Republican pro-growth policies, high inflation has been curtailed, and today’s inflation will fall further in the months ahead. For instance, Republicans’ pro-energy policies have brought down the price of energy, which is an input in nearly all other goods and services.

“August’s deflationary wholesale prices will be passed along to consumers in lower inflation next month. Americans no longer have to worry about high inflation reducing their real wages and living standards. The far bigger concern is the artificially high interest rates preventing small businesses from expanding and ordinary folks from securing affordable mortgages. The Fed should recognize this dynamic and significantly cut rates, understanding that Republican pro-growth policy will make further inroads on inflation in the months ahead. Rate cuts, tax cuts, and slower inflation will kickstart America’s Main Street resurgence.”