Ranking Member Mike Lee on Second Quarter GDP Report
Rising Inflation Best Repaired By Innovative Americans, Not Additional Stimulus
WASHINGTON—Sen. Mike Lee (R-UT), Ranking Member of the Joint Economic Committee, released the following statement today on the second quarter GDP report issued by the U.S. Department of Commerce:
“The economy rebounded sharply in the second quarter of 2021, with real GDP growth of 6.5 percent. The recession is over, and Americans are rebuilding. This economic growth is the product of a safe reopening effort spearheaded by resourceful Americans in business, healthcare, and medical research.”
“However, there is more work to do. While spending is returning to pre-pandemic trends, rising inflation means that Americans are getting less for their money as workers, firms, and supply chains strain to meet customer demand. These problems are best repaired by the private sector, not additional stimulus, and I am confident in the ability of innovative Americans to solve these challenges in the months ahead.”
The Joint Economic Committee is Congress’s bicameral economic research center and home of the Social Capital Project, led by Ranking Member Mike Lee.