Following the February PCE report, US President Joe Biden issued a statement highlighting progress in the “fight against inflation.”
“We are making progress in the fight against inflation,” according to the statement. Today’s report shows US annual inflation down nearly 30% from this summer, despite low unemployment and steady growth. The battle against inflation is far from over, and every day by the administration is working to provide more breathing space for families.”
“We saw the lowest food inflation in nearly two years in February.”
“We should keep investing in America from the middle out and from the bottom up.” This is not the time to return to trickle-down economics by cutting American manufacturing and other critical programs that American families rely on to fund tax breaks for the wealthy, Big Pharma, and Big Oil.
The reckless threat of a chaotic default is the last thing our economy needs right now. Those threats must be removed from the table.”
