Inflation Data for August Is in...

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The PCE price index report for the month of August came in consistent with forecasts, showing annual inflation at 2.7 percent and core inflation, which excludes food and energy, at 2.9 percent, according to estimates released Friday by the U.S. Bureau of Economic Analysis. Consumer spending came in slightly higher than expected in August, rising 0.6 percent, and personal incomes were up .4 percent last month. 

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"Inflation remains moderate and controlled due to good Republican policies like energy dominance, deregulation, and tax cuts," said Job Creators Network CEO Alfredo Ortiz. "As a result, the Federal Reserve should continue lowering interest rates this fall to allow small businesses to access the credit they need to expand and hire. According to JCN polling, 69% of small businesses are having difficulty accessing credit in this environment, and 74% want the Fed to lower rates. By allowing small businesses to access the credit they need to start and expand, the Fed enables entrepreneurs to increase economic supply and put further downward pressure on prices while reinvigorating the American labor market and Main Street economy."

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Editor’s Note: Thanks to President Trump’s leadership and bold policies, America’s economy is back on track.

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