Smith Statement on PCE Report: Republican Economic Policies are Defeating Inflation, the Fed Should Take Note

WASHINGTON, D.C. - Ways and Means Committee Chairman Jason Smith (MO-08) released the following statement after the release of the October and November reading of the Federal Reserve's preferred inflation measure, the Personal Consumption Expenditure (PCE) price index:

"The Federal Reserve should take note of these PCE readings and deliver another interest rate cut to American families who have been priced out of the American Dream for far too long. President Trump and Republicans in Congress are working tirelessly to defeat Biden's inflation and make the cost of raising children, owning a home, and buying a car attainable once again for millions of Americans. Thanks to the Working Families Tax Cuts, Americans are finally seeing their wages grow, their take home pay increase, and soon they will receive the largest tax refunds in history, yet they are still looking for needed relief. The Federal Reserve should do its part next week to put the American Dream back in reach."