Press ReleaseSeptember 20, 2023

Job Creators Network Reacts to Federal Reserve Rate Hike Pause

Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement on the Federal Reserve’s decision to hold rate steady:

“The Fed’s rate hike pause will likely be short-lived as Bidenflation continues to rear its ugly head. Despite the Fed’s aggressive rate hikes, inflation has accelerated in recent months due to the ongoing reckless spending and anti-oil policies of the Biden administration and Congressional Democrats. Small businesses are facing a one-two punch of rising inflation and high interest rates, which reduce their access to credit. For some, this month’s interest rate pause is little more than a stay of execution. To finally get inflation under control and allow the Fed to lower interest rates, Congress should pass legislation that implements JCN’s American Small Business Prosperity Plan, an eight-step policy playbook that cuts inflationary spending, boosts domestic oil production, and gets the economy working for everyone again.”