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Job Creators Network Says The Federal Reserve’s Favorite Inflation Gauge Remains Near 40-Year High

Inflation

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President and CEO of Job Creators Network, Alfredo Ortiz, issued the subsequent statement on Friday’s release of the PCE Index, which rose by 6.3 percent over the last year:

“Democrats and their media allies are celebrating today’s month-over-month decline in the PCE Index while ignoring that year-over-year inflation remains near a 40-year high. Ordinary Americans and small businesses are still being crushed by this historic inflation, even if it is no longer in the news cycle. President Biden’s half-trillion-dollar student loan bailout will only pour fuel on this inflationary fire — a fact that even Democrat economists have admitted. To ultimately end this sustained period of high inflation, the Biden administration and Congressional Democrats must commit to stopping their reckless spending.”

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