Job Creators Network: If the Fed Sticks to the Data, Rate Won’t Change
Washington, DC (December 19, 2018) – The Job Creators Network released the following statement on behalf of President and CEO Alfredo Ortiz leading up to the Federal Reserve Board’s decision later today on whether to raise the interest rate:
“Based on all the available data, the Fed should not raise rates today. Unless they’re influenced by some factors unrelated to the economy, we urge the Fed to keep the rate at the current level, at least for now.
“The housing market, which has been slow this year, was off by 13 percent last month. Fuel prices are low and going lower. The stock market is very nervous because of the global economy. The bottom line is that there are plenty of other forces working against the possibility of inflation. There’s no need for another rate hike.
“Higher interest rates raise the cost of borrowing, which leads to lower business investment. We’ve had the best growth in years with strong job creation and wage growth. The Fed should do nothing that would jeopardize growth.”
For more information about the Job Creators Network, please visit www.jobcreatorsnetwork.com.