Senator Warren Statement on May PCE

Washington, D.C. – United States Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee released the following statement:

“Today’s personal consumption expenditures data release shows inflation increased 0.1% in May. This follows the Federal Reserve’s updated economic projections last week that show that  Donald Trump’s chaotic tariff war is driving expectations of higher inflation, higher unemployment, and less growth – and Chair Powell made clear if it were not for Trump’s tariffs, the Fed would be cutting interest rates. One person is standing in the way of lower costs for families: President Trump. In the meantime, housing prices continue to rise, layoffs are ticking up, disposable income is falling, and consumers are pulling back on spending as they grow more and more anxious about the economy. It’s time to stop pretending the President’s economic chaos is cost-free.”

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