On Friday’s broadcast of the Fox Business Network’s “Cavuto: Coast to Coast,” Deputy Treasury Secretary Wally Adeyemo commented on the PCE inflation report and stated that inflation has dropped and they expect it to continue to do so and that food companies need to pass cost savings to consumers.
Adeyemo said, [relevant remarks begin around 1:10] “So, it’s important to remember where we’re coming from in order to understand where we’re going. And if we were talking a year and a half ago, inflation would have been far higher, but because of the action the President’s taken and the Fed has taken, inflation has come down. Our expectation is that, over the course of the year, it will continue to come down. But we know
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