Washington, DC (September 21, 2022) – Today, the U.S. Federal Reserve announced they would be raising interest rates by 75 basis points.
“Today’s announcement by the Federal Reserve, to continue raising interest rates, will only add to the difficulties facing small businesses and Americans. The Fed rate increase will make it more difficult and costly for small businesses to access the credit they need to expand and grow; it will push the dreams of budding entrepreneurs and future homeowners further out of reach than before. But the Fed has no choice, the Biden administrations inability to stop the continuing rise of inflation that their federal spending has egged on has forced the Fed to raise rates in an attempt to slow the economy. The best way to combat inflation and get our economy back on track is do away with Biden’s tax-spend-and-regulate agenda to let small businesses take the lead.”