Job Creators Network Says Tame CPI Makes Another Rate Hike Unnecessary
Washington, DC (December 12, 2018) – The Job Creators Network released the following statement on behalf of President and CEO Alfredo Ortiz in response to the CPI Index report this morning:
“This morning’s report confirms that inflation is firmly under control. Consumer prices are very stable. The price of oil has dropped significantly. The real estate market is sluggish. All the data should convince the Fed to take its foot off the brakes.
“The string of interest rate hikes this year has slowed the economy. They have increased the cost of borrowing, which reduces economic activity. We need businesses to continue purchasing equipment, vehicles, technology, real estate, and inventory. All that activity leads to productivity, wage growth and jobs. Another rate hike will discourage growth.”
For more information about the Job Creators Network, please visit www.jobcreatorsnetwork.com.