SMALL BUSINESSES ARE STRUGGLING UNDER LATEST FED RATE HIKE, SAYS JOB CREATORS NETWORK

In response to the Federal Reserve’s eighth consecutive interest rate hike, Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement today:

“Rate hikes are an unfortunate side-effect of federal overspending, which drives up inflation and forces the Fed to pump the brakes on the economy and bring us closer to falling back into a recession. Higher interest rates have a particularly devastating impact on small business owners and their employees, who see their borrowing and credit costs significantly rise. Congress must act fast to get federal spending under control so that the Fed isn’t forced to further limit access to credit that’s the lifeblood of the economy.”