Washington, DC (December 14, 2022) — Today, the U.S. Federal Reserve announced it will be raising interest rates by 50 basis points, the last rate hike of 2022.
Alfredo Ortiz, president and CEO of Job Creators Network (JCN), released the following statement:
“The Federal Reserve is raising rates again in response to continually high inflation. Bidenflation is a tax on all Americans, an especially painful one this holiday season, but rate increases can be just as painful. Aspiring homeowners, entrepreneurs, and small businesses are all hurt by high borrowing costs because of interest rate increases. The Federal Reserve is only continuing their rate hikes to cool down inflation. But this problem is too big for just the Fed, Congress needs to step up and help them by cutting down Biden’s holiday spending spree- Democrat’s wallet busting omnibus legislation. JCN proposed solutions to curb inflation in our Small Business Prosperity Plan, a roadmap for the incoming Congress to address the unique needs of the small business community. It’s time for Congress to get serious about inflation.”
You can learn more about JCN’s Small Business Prosperity Plan here.