AFPI Urges the Federal Reserve Against a Rate Hike

WASHINGTON, D.C.— Ahead of the Federal Reserve’s meeting on Wednesday, the America First Policy Institute (AFPI) released the following statement urging the Federal Reserve not to raise interest rates:

“It would be a mistake to raise rates. That is not what the economy needs right now,” said Michael Faulkender, co-chair, Econ and Trade Policy. “The most recent inflation data shows that much of the recent pressure is being driven by energy prices, not a broad resurgence of inflation. Raising interest rates would make borrowing more expensive for American families. The Federal Reserve should instead make clear it will not finance the debt created by Washington’s persistent budget deficits.”

AFPI will continue championing policies that put the prosperity of American citizens first, defend American workers and their families, promote growth that lifts up forgotten communities, and encourage continued job creation.

Read AFPI’s new seven-point economic plan here.