PRODUCER PRICES SURGE AT RECORD RATE, JOB CREATORS NETWORK REACTS

The Department of Labor announced that producer prices rose in May at a 6.6% annual pace, the most on record.

Alfredo Ortiz, President and CEO of the Job Creators Network (JCN), released the following statement:

“Job Creators Network was the first to warn about the inflationary risks of President Biden’s left-wing agenda.  Now we are seeing the consequences of Biden’s record spending, with producer prices surging at the fastest pace in history. If you’re having flashbacks to Jimmy Carter’s presidency, you’re not alone, and JCN was the first to make the comparison.  Biden’s inflation is already hurting small businesses and consumers and is putting our post-pandemic recovery at risk.  Once the genie of inflation is out of the bottle, it’s very hard to put back and will likely keep growing without a course correction.  Biden’s plan to spend an additional $4 trillion is the exact opposite of what we need.  Biden’s ‘War on Small Business’ is taking a massive toll on our economy and is getting worse by the day.”

In March, RealClearPolitics published Mr. Ortiz’s op-ed, Biden’s Presidency Is the Modern Version of Jimmy Carter’s. To read it, click here.