Job Creators Network Responds to June PCE Release

Alfredo Ortiz, CEO of Job Creators Network, released the following statement in response to the June PCE release, which showed inflation rose by 2.5% last month and Core inflation rose by 2.6%:

“The Federal Reserve’s favorite inflation indicator rose more than expected last month and remains stubbornly above 2.5%. But the real inflation damage has already been done. Americans are paying 20% more for goods and services than before the Biden-Harris administration took office. They are facing a cost-of-living crisis from the bad Democratic policies, including overspending, overregulation, and restrictions on traditional energy production. This enormous cost burden is evidenced by another decline last month in the personal saving rate. Record credit card debt is allowing Americans to make ends meet and prop up the economy.”