OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Boyle Statement on July Inflation Data

Statement

Date: Aug. 10, 2023
Location: Washington, D.C.
Issues: Monetary Policy Economy and Fiscal

"Today's CPI data shows inflation is down from July 2022's historic highs of 8.5 percent to just 3.2 percent in July 2023 -- a dramatic drop and a feat we've accomplished while securing record job gains and stable economic growth. Bidenomics is working, and Americans are seeing the benefits of an economic agenda that puts workers and middle-class families first. As inflation continues to ease, the Fed must avoid unnecessary and potentially recession-inducing rate hikes.

Unfortunately, while our nation benefits from an unprecedented recovery thanks to Bidenomics, extreme MAGA Republicans continue their crusade to make devastating cuts to the critical investments that got us here. House Democrats passed an agenda that is lowering costs, creating jobs, and growing our economy equitably -- and we will defend our progress against a broadly unpopular, dangerous, and tired Republican agenda."


Source
arrow_upward