Press ReleaseNovember 30, 2021

Job Creators Network Calls Out Fed Chair Jerome Powell for Finally Admitting High Inflation isn’t “Transitory”

Washington, DC (November 30, 2021) – Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to Federal Reserve Chairman Jerome Powell finally admitting that high inflation is no longer “transitory”:

“DUH! Powell is finally recognizing what small businesses and JCN have been saying nearly all year: High inflation is persistent and isn’t going anywhere soon. Powell is trying to justify his leading from behind on inflation by blaming the Omicron variant, yet the real driver of historic inflation is reckless spending by President Biden and Congressional Democrats as well as unprecedented money printing by Powell’s Fed. This is rationalization, not reason, and a desperate attempt to save face. Powell was too scared to admit the inflation reality that everyone else outside the DC bubble has long known because he was scared it would scuttle Democrats’ multi-trillion-dollar spending plans and his chances for a second term. This political maneuvering may keep him in the top seat for a few more years, but it will do lasting damage to his legacy and the small business economy as a whole.”