Job Creators Network Responds to Federal Reserve Rate Cut

Alfredo Ortiz, CEO of Job Creators Network, released the following statement in response to the Federal Reserve’s quarter-point rate cut today:

“American small businesses have mixed feelings about Wednesday’s rate cut. On one hand, the cut reduces their borrowing costs and increases their access to capital. Yet the cut won’t help resurgent inflation and high costs that small businesses still say are the biggest problems they face, according to JCN’s most recent national poll. Under the Biden administration, inflation has increased by 21% after being low throughout the Trump administration. Unfortunately, the weak Biden economy and labor market left the Fed with little choice. Moving forward, however, the Fed should hold rates steady until it’s clear Bidenflation has been defeated, with price growth reaching or falling below the 2% target rate.”