The Progressive


A project of Common Dreams

For Immediate Release

Groundwork's Lindsay Owens Calls on Fed to Halt Rate Hikes

Today, the Federal Reserve begins its two-day Federal Open Market Committee meeting, where it is expected to announce another rate hike. Groundwork Collaborative’s Executive Director Lindsay Owens released the following statement:

“Chair Powell and the Fed continue to push the false choice peddled by inflation hawks that we have to choose between a strong labor market and lower prices. The data show that we can have both.

“The dangerous reflex to hike rates, no matter the causes of inflation, is both a policy failure and a failure to imagine a world in which workers are anything other than expendable. The Fed should end its rate hiking campaign for good.”

The Groundwork Collaborative is dedicated to advancing a coherent and persuasive progressive economic worldview and narrative capable of delivering meaningful opportunity and prosperity for everyone. Our work is driven by a core guiding principle: We are the economy. Groundwork Collaborative envisions an economic system that produces strong, broadly shared prosperity and power for all people, not just a wealthy few.