Press ReleaseJuly 27, 2022

Job Creators Network Reacts to Federal Reserve’s 75 Basis Point Interest Rate Increase

Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to the Federal Reserve’s announcement today that it will increase interest rates by 75 basis points:

“The Fed is raising interest rates to combat the massive inflation unleashed by the Democrats’ spending spree. The Fed’s actions will slow our economy by raising borrowing costs – but it’s the only way to tamper ‘Bideninflation.’ Eighty-five percent of Americans feel the economy is going in the wrong direction, but the Biden administration is busy wasting time trying to redefine the technical definition of ‘recession’ this week instead of taking action. Rather than play semantic games, the Biden administration should adopt a pro-growth agenda that includes curbing reckless spending, increasing domestic energy production, eliminating burdensome regulations, and making the Tax Cuts and Jobs Act permanent.”