Job Creators Network Welcomes Powell’s Remarks but Renews Call for a Pause on Rate Hikes
Washington, DC (November 28, 2018) – The Job Creators Network today issued the following statement on behalf of President and CEO Alfredo Ortiz in response to Fed Chairman Jerome Powell’s remarks on higher interest rates:
“The Chairman tried today to calm fears of additional rate hikes and for that he deserves credit. The stock market’s reaction is a positive development, but we should not confuse the stock market with the broader economy, which is composed mostly of small businesses. Small business owners are nervous about continued rate hikes when there are no real signs of inflation.
“Higher interest rates create higher borrowing costs, making it more expensive for small businesses to invest, expand and create jobs. We urge the Chairman to hold off another interest rate hike in December. That would send a strong signal to small businesses that the Fed will not interrupt the remarkable economic expansion that is currently bringing prosperity to millions of Americans and small businesses.”
For more information about the Job Creators Network, please visit www.jobcreatorsnetwork.com.