Washington, D.C.—Today, Senator Martin Heinrich, (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Economic Analysis (BEA) reported its initial estimate that second-quarter gross domestic product (GDP) expanded 2.4% on an annual basis.

Yesterday, Senator Martin Heinrich, (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), sent a letter to Federal Reserve Chairman Jerome Powell ahead of the July meeting of the Federal Reserve Open Market Committee, urging caution around additional monetary tightening in light of current economic developments.

Washington, D.C.—Today, Senator Martin Heinrich, (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by 209,000 in June and the unemployment rate ticked down to 3.6%. The unemployment rate was 6.0% for Black workers, 4.3% for Hispanic workers, 3.1% for white workers, 3.2% for Asian workers, and 6.6% (not seasonally adjusted) for American Indian and Alaska Native workers.

Washington, D.C.—Today, Senator Martin Heinrich, (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics (BLS) reported that prices measured by the Consumer Price Index increased only 0.1% in May 2023, down from the 0.4% increase in April and the 0.1% increase in March. Data also show that annual prices increased 4.0%, significantly below the peak of 9.1% in June 2022.