The Federal Reserve announced it would cut interest rates for the first time in four years. It lowered rates by half of a percentage point. U.S. Congress Joint Economic Committee Chairman Sen. Martin Heinrich, D-New Mexico, issued a statement following the rate cut.
“For months, I’ve advocated for interest rate cuts to deliver the benefits of this economy to Americans. Families have had to endure unnecessary hardship for far too long because of needlessly high interest rates. Today, the Federal Reserve finally made the right call.
Democrats in Congress applauded the Fed’s decision to slash interest rates by half a percentage point, calling it a “big win for families.”
Rising temperatures and increased heatwaves fueled by climate change heighten farmworkers’ risk of heat-related illnesses according to a new report from Joint Economic Committee Democrats. Agricultural workers are 35x more likely to die from heat-related illnesses.
“Today’s release is welcome news that inflation continues to fall. The prices of energy and used cars are down. And wage growth is outpacing inflation. But there’s still work to do to ensure families feel relief. At the top of that list is cutting interest rates. "
"Democrats have delivered 43 months of consistent job growth and created nearly 16 million new jobs. That’s more than double the job creation under the Trump administration before March 2020."
“By expanding the capabilities of land ports of entry, we can keep our border and business communities thriving. That’s why I’ve been working for over a decade to modernize, expand, and deliver resources for New Mexico’s land ports of entry."
“Republican’s Project 2025 is a radical agenda that rolls back decades of progress we’ve made toward a better future for everyone. If Republicans get their way, low-income children will go hungry, seniors will be forced to choose between life-saving medication and putting food on the table, and the planet our kids inherit will be in jeopardy. We can’t let that happen”.
After more than two years of being politically battered over soaring prices, Wednesday’s inflation report left many Democrats feeling victorious.
Aug 14 2024
JEC Chairman Heinrich: “We need to make sure that this relief is reaching all Americans”
“Inflation is down. The price of gas or a new car have fallen over the last year. And many families can now breathe a bit easier. Now, we need to make sure that this relief is reaching all Americans."
