United States Senator Elizabeth Warren, serving as the Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, has issued a statement concerning the January Personal Consumption Expenditures (PCE) data.
Senator Warren commented on recent economic indicators, saying: “This week's initial jobless claims and plummeting consumer confidence data prove that President Trump is leading us full steam ahead into a chaos economy.” She pointed to various warning signs such as "dissipating labor gains, declining investment, and falling consumer confidence," which she believes highlight an urgent need for action.
Warren urged the Federal Reserve to consider cutting interest rates at its upcoming meeting. She stated that "today’s inflation data shows that the Fed has a small window to act to cut interest rates." According to her, a modest rate cut could serve as a buffer against future uncertainties.
The senator also criticized President Trump and Elon Musk for their roles in increasing unemployment and reducing economic activity. She accused them of "bulldozing through government programs that Americans rely on" while failing to fulfill promises to lower costs.