Job Creators Network Responds to July PCE Index

Alfredo Ortiz, CEO of Job Creators Network, released the following statement in response to the July PCE index, which increased by 0.2%, and CORE PCE, which increased by 0.3%:

“Friday’s PCE index is the latest indication that the Federal Reserve must significantly lower interest rates as soon as possible. It’s clear that the biggest threat facing the economy is no longer inflation, which President Trump and Congressional Republicans have conquered, but rather the lack of access to credit facing small business job creators. High interest rates that are around two percentage points above other industrial nations are holding the economy back by denying capital to entrepreneurs looking to take advantage of new Republican tax cuts. Chairman Powell should apologize to President Trump, admit Trump was right about lowering interest rates, and significantly reduce them immediately so that the small business economy can boom.”