Groundwork’s Dr. Rakeen Mabud Calls on Fed to Permanently Halt Rate Hikes

Chair Powell is expected to pause his year-long rate hiking campaign during today’s Federal Open Market Committee (FOMC) meeting. Groundwork Collaborative’s Chief Economist Rakeen Mabud released the following statement:

“Inflation is down and the job market remains strong. We never had to choose between lower prices and a strong labor market.

“Today, Chair Powell must concede that you don’t have to destroy the labor market to bring down prices. That starts with not only skipping today’s rate hike, but permanently halting this dangerous rate-hiking campaign.”