Statement by National Economic Advisor Lael Brainard on March PCE Report

While inflation has fallen more than 60% from its peak, today's report reinforces the importance of our ongoing work to bring costs down. President Biden is fighting to lower the biggest bills families face. The President has secured legislation to lower costs for health care, prescription drugs, and insulin. He has called on Congress to pass his plan to lower housing costs by building one million new homes. And he is banning hidden junk fees and calling on corporations with record profits to pass their savings on to consumers. That's a sharp contrast with Congressional Republicans, who are fighting for measures that raise costs for health care, housing, and utility bills while cutting taxes for the wealthiest Americans and biggest corporations.