After the Federal Reserve’s preferred measure of inflation, August’s personal consumption expenditures (PCE) price index rose 6.2 percent from the year previous–much higher than expected–Ways and Means Republican Leader Rep. Kevin Brady (R-TX) issued the following statement:
“Inflation is worsening, which is another crushing blow for families in President Biden’s cruel economy.
“While the President falsely insists inflation is ‘zero,’ many Americans report they are skipping meals, raiding their savings, and looking for extra work to try to make ends meet.
“The truth is that thanks to his bungling of the recovery, our economy is shrinking, unemployment is rising, mortgage prices are at a 15-year high, savings are being decimated, and experts say as many as 6 million jobs must be sacrificed to bring Biden-Flation down.
“No wonder so many Americans have lost faith in Washington Democrats who ran the economy into the ground.”