Jay Block, Senator of New Mexico, said that the recent decline in U.S. inflation indicates economic strength but emphasized the necessity for further interest rate cuts to enhance conditions. This statement was made on X.
"Great news for American families," said Jay C Block, New Mexico State Senator from 12th District (R). "The "expert" naysayers all pontificated it couldn't be done. Once again, they have been proved wrong. The economy is strong but could be stronger with interest rate cuts!"
In 2025, U.S. inflation has been a significant concern in economic policy discussions as price increases for essentials like food and services remain above the Federal Reserve’s 2% target. Policymakers are debating whether to cut interest rates or maintain them, as reported by Reuters.
Although some reports suggested a 1.67% U.S. inflation rate for August 2025, the Bureau of Labor Statistics (BLS) officially recorded inflation at 2.7% for the 12 months ending June 2025, with core inflation at 2.9%. This data indicates that prices are still rising faster than the Federal Reserve's goal, according to the BLS.
The Federal Reserve maintained its benchmark interest rate between 4.25% and 4.50% through June 2025, with plans for potential rate cuts later in the year but expressed caution due to persistent inflation concerns, according to Reuters.
Block is a Republican who became New Mexico State Senator for District 12 in 2025 after serving on the Sandoval County Commission and running for governor. His policy focus includes economic development and government efficiency.
