Job Creators Network Responds to August PCE Index

Alfredo Ortiz, CEO of Job Creators Network, released the following statement in response to the August PCE, which rose 0.1% (2.2% year over year), and CORE PCE, which rose 0.1% (2.7% year over year):

“Inflation continues to moderate while staying stubbornly above the Federal Reserve’s 2% target. Yet the damage is already done. Ordinary Americans and small businesses have to make exceedingly tough spending choices to make ends meet due to the cost-of-living crisis caused by the Biden-Harris administration’s reckless spending and anti-energy policies. For these Americans, inflation can’t come down fast enough.

“Meanwhile, the personal savings rate continues to plummet to a historic low, as American consumers run on fumes and run their credit card debt to record levels to pay their bills and afford gas and groceries. The economy urgently needs conservative, pro-growth policies to raise real wages, personal savings, and living standards.”