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2024-09-19 23:36:28

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2024-09-19 23:36:17

Kennedy: U.S. economy needs to ‘grow’ out of inflation
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Sen. John Kennedy (R-La.) addressed the Senate on Sep 19, 2024, discussing the impact of inflation on Americans, stating that high prices are a 'cancer on the American dream.' He highlighted that consumer debt reached $17 trillion last year, the highest since 2009, and criticized the rising interest rates on credit cards due to inflation. Kennedy noted that while inflation has decreased, it has not led to lower prices, a situation he termed disinflation. He emphasized the need for the Senate to collaborate on strategies to grow the economy beyond the current 1.5% to 2% GDP growth rates, warning against the recession as a means to reduce prices.
#Inflation #Economy #Senate #JohnKennedy #ConsumerDebt #InterestRates #Disinflation #GdpGrowth #Recession #UsPolitics
https://www.kennedy.senate.gov/public/press-releases?ID=2F8E38EF-0CFB-43D6-96DB-0E0EC0317E78