Rep. Kevin Brady, chairman of the Congressional Joint Economic Committee (JEC) commented on today’s Federal Open Market Committee (FOMC) statement.

 

“The FOMC revised the language in today’s statement, but it adds more confusion than clarity.  The unusually high number of dissents indicates the absence of a clear consensus on monetary policy in the Fed.” Brady said.

 

“Easy money will not close the Growth Gap.  Closing it will require new budget, tax, and regulatory policies,” Brady observed.

 

“To achieve sustained job creation and income growth for hardworking Americans, the newly elected Congress should pass pro-growth legislation—controlling federal spending, reforming our broken tax code, and cutting costly red tape.  And the Fed should maintain a sound dollar,” Brady concluded.