Job Creators Network Statement on July CPI

Alfredo Ortiz, CEO of Job Creators Network, released the following statement in response to July CPI, which rose by 0.2% (2.7% year over year), and CORE CPI, which rose by 0.3% (3.1% year over year)

“Tuesday’s inflation report is the latest evidence that the Fed must immediately cut sky-high interest rates. Under President Trump, inflation has run below the Fed’s own 2% target, yet Chairman Powell keeps strangling the economy with rates nearly two points higher than in other developed countries. Inflation isn’t the problem anymore—credit is. Powell’s stubbornness is starving small businesses of the capital they need to grow and preventing them from taking full advantage of the recent historic tax cuts. Powell isn’t data-dependent, he’s a data denier. Every day he delays is another day of lost jobs, lost growth, and lost opportunity. JCN’s petition at CutTheRateNow.com calls on Powell to admit defeat and act now for the good of small businesses and the American economy.”