During an interview on Fox Business Network’s “Cavuto: Coast to Coast,” Deputy Treasury Secretary Wally Adeyemo discussed the recent PCE inflation report. He noted that inflation has decreased and is expected to continue to do so. Adeyemo also emphasized the need for food companies to pass on their cost savings to consumers.
Adeyemo highlighted the actions taken by President Biden and the Fed to bring down inflation. He expressed confidence that inflation will continue to decrease throughout the year. Adeyemo emphasized the importance of reducing costs for Americans, pointing to initiatives to lower prescription drug prices and increase housing supply.
Guest host Edward Lawrence raised concerns about rising food prices and declining average hourly wages since President Biden took office. Adeyemo reassured that incomes are growing faster than inflation and that food costs have stabilized. He mentioned that input costs are decreasing and urged companies to pass on these savings to consumers.
Overall, Adeyemo emphasized the administration’s commitment to reducing costs for Americans and addressing economic challenges.
