Washington, DC (October 30, 2019) – Today, the Federal Reserve announced that it will cut interest rates by one-quarter of a percentage point.
Alfredo Ortiz, President and CEO of the Job Creators Network (JCN) released the following statement.
“We applaud the Fed for cutting interests rates for the third time this year. Small businesses rely on low rates to borrow, expand, and create jobs. This is why JCN has consistently advocated for lower rates and strongly opposed the rate hikes that took effect late last year, calling them a mistake. Our economy has made tremendous strides under President Trump, including the lowest unemployment rate in 50 years and 3 percent wage growth. Today’s rate cut is essential to keep that momentum going and make it even stronger.”