Trump Economic Advisor Christopher Phelan said that President Donald Trump’s plan to reduce inflation is working, and added that he sees “no reason to raise rates.”
\n\nWhile speaking to Breitbart News Washington Bureau Chief Matthew Boyle, Phelan admitted that “right now, inflation is a little bit higher than we would like,” adding that it is “coming down.”
\n\nWhen asked how to “combat” inflation and “turn a corner” on it, Phelan explained that while Personal Consumption Expenditures (PCE) inflation has been higher than the Federal Reserve’s target, it is “improving.”
\n\n“I wouldn’t say a lot of it started under the Biden administration, almost all of it started under the Biden administration,” Phelan said.
\n\nPhelan explained that when he looks at the data, he likes “to average it over a few months.”
\n\n“I like to look at Core, which excludes food and energy. Not because food and energy doesn’t matter, it does. But, because it’s very volatile as well,” Phelan continued, explaining that Core PCE “is what the Fed looks at.”
\n\n“Core PCE… which is what the Fed looks at, over the last three months has been three percent. The three months before that it was 3.9 percent. So, what they’re currently…
Original source: https://www.breitbart.com/economy/
