Press ReleaseNovember 2, 2022

Job Creators Network Reacts as Federal Reserve Raises Interest Rates Again

Washington, DC (November 2, 2022) – Today, the U.S. Federal Reserve announced it will be raising interest rates by 0.75 basis points. 

Alfredo Ortiz, president and CEO of Job Creators Network (JCN), released the following statement: 

“The Fed’s decision to raise rates is a black eye on the Biden Administration. The Administration’s record spending spree is fueling the inflation that the Fed is desperately seeking to contain.  Small Business owners and aspiring homeowners will now experience higher borrowing costs as the Fed acts to mitigate the Administration’s irresponsible far-left policies. The highest inflation rate in four decades cannot be blamed on ‘Putin’s Price Hike,’ it is a direct result of the Democrats’ policies, including higher taxes and stifled domestic energy production. With less than a week until Election Day, the Fed’s decision is a fresh reminder Biden’s policies continue to fuel inflation and a real recovery can’t begin until a new Congress can rein in the worst excesses of the Administration. JCN’s ‘American Small Business Prosperity Plan’ is a roadmap on how to do that.”  

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