FOR IMMEDIATE RELEASE
March 21, 2018
Media Contact: J.P. Freire--(202) 306-5035

Chairman Paulsen Reacts to FOMC Announcement

WASHINGTON--Joint Economic Committee Chairman Erik Paulsen, R-Minn., reacted to the Federal Open Market Committee's announcement of its decision to raise the interest on excess reserves rate to 1.75 percent.

“According to our economic analysis, America’s new and faster growth is sustainable because Congress and the new Administration have pursued policies that bring American workers back to work and allow businesses to invest. I welcome this move by the Fed as part of its longstanding plan to normalize monetary policy, given that the economy itself is just returning to normal.”