Job Creators Network Responds to May PCE Report

Alfredo Ortiz, CEO of Job Creators Network, released the following statement in response to the May PCE index, which increased by 0.1% (2.3% year-over-year), and CORE PCE, which rose by 0.2% (2.7% year-over-year):

“Inflation remains very low as President Trump has delivered on his promise to end Bidenflation. Now it’s past time for the Federal Reserve to follow Trump’s advice to cut interest rates and improve small business access to credit, which remains historically expensive.

“Yet instead of data dependent, Chairman Powell has become a data denier. Ironically, the Fed seems to believe low inflation over the past few months is transitory. That’s the same mistake the Fed made when it was too late to act in the face of the highest inflation in 40 years under President Biden, which it also mistakenly thought was transitory. Given these ongoing low inflation numbers, Chairman Powell should consider a 0.5% rate cut to provide the most support for Main Street and the broader economy.”